Fashion magnate visits malls in China

French billionaire and luxury brand magnate Bernard Arnault visited high-end shopping malls in Shanghai and Beijing during his ongoing China trip.

The LVMH chief executive was seen at Shanghai IFC Mall yesterday, where Sun Hung Kai Properties executive director Maureen Fung Sau-yim met Arnault and Pietro Beccari, chairman and CEO of Louis Vuitton.

A customer bought a 500,000 yuan (HK$ 541,565) suitcase at the Louis Vuitton branch at the mall after Arnault's visit.

Arnault was spotted at a mall in Beijing on Tuesday, as shown in photos circulating on Chinese social media. With him were his daughter, Christian Dior global chief Delphine Arnault, his 24-year-old son Jean Arnault, and Celine global head Severine Merle.

Arnault's China trip includes meetings with local teams in several cities.

The visit coincides with an economic conference in Tianjin, where Premier Li Qiang sought to reset ties with major trading partners and warned against "de-risking" supply chains away from China.

President Xi Jinping separately pledged to do right by foreign investors as China continues to open up.