While weakening consumer confidence and growing geopolitical tensions have cast a pall over many foreign businesses in China, British wine club operator 67 Pall Mall is undaunted.
The company is preparing to launch its first mainland Chinese club in a century-old Shanghai mansion originally built by a British merchant, aiming to attract up to 1,500 members paying annual fees of Rmb50,000 ($6,900).
“I have looked at probably 20 other sites around the city,” said founder Grant Ashton. “I genuinely believe China is open for business.”
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