The China Edit | Alibaba Hits 3 Trillion Yuan, Spending on Experiences, Watch Sales Suffer

"Alibaba Reaches 3 Trillion Yuan Milestone Even as China Slows" (Bloomberg)
"Alibaba Group Holding Ltd. sold 3 trillion yuan ($463 billion) of goods through its online shopping websites in the year ending March, as it moved deeper into the untapped countryside and courted foreign brands."

"China's Consumers Spend Up On Spas, Travel and Entertainment" (Bloomberg)
"Consultancy McKinsey & Co. is tipping that China's shoppers will increase their spending by 10 percent per year through the end of the decade as incomes rise. It's not just staple goods that will be filling the shopping trolleys."

"Hong Kong Luxury Watch Sales Tumble as Chinese Travel Beyond" (The Financial Times)
"The luxury timepieces industry is weathering not just sluggish world growth and a Chinese economic slowdown. It also faces particular difficulties in Hong Kong, the industry's most important marketplace."

"China Is the Place for Fine Jewelry Fans of Swarovski" (The New York Times)
"The company is selling its fine jewelry line only in China."

"Alibaba to Train a Million Teenagers in Rural China" (Reuters)
"Alibaba plans to train a million teenagers in rural China to help start their own online businesses, taking e-commerce to the country's vast rural areas, the official Xinhua news agency reported on Tuesday."