☕️ Good morning, friends,

Today’s motto of the day is once again CHINA SPEED!

No sooner had Taylor Swift (her Chinese nickname is 霉霉 — “mold”) slipped on an engagement ring than replicas were already for sale on Taobao. Matching fingernails included. Go check it out!

P.S. This month, you’ll get 10% off all travel guides from our friends at China Insider with the code ASIABITSFRIENDS.

Everything you need to know about China (or Shanghai, Chongqing, and Xi’an). Curated with love by locals.

BENCHMARKS

NUMBER OF THE DAY

+45%

The increase in foreign direct investment that Ho Chi Minh City recorded year-on-year in the first seven months of this year.

🏭 Mega-Metropolis in the making: Of the total USD 6.2 billion in FDI, USD 1.3 billion came from 1,073 new projects, the rest from capital increases and acquisitions. Over USD 1 billion flowed into high-tech, including semiconductor factories and data centers.

🌏 Investor magnet: AEON is planning three mega-malls, U.S. companies are investing up to USD 850 million in battery factories, and Chinese corporations are building metro lines.

Watch: The merger with neighboring provinces Binh Duong and Ba Ria-Vung Tau is creating a powerhouse with industrial capacity, seaports, and a future financial center—positioning Vietnam as the ASEAN gateway for global investors.

TOP BIT

👟 Puma Crisis: Pinault Considers Sale to China

The French billionaire Pinault family is considering an exit from Puma. Through their holding company Artémis, they own 29 percent of the sportswear manufacturer – and according to media reports are already in talks with potential buyers such as China’s Anta Sports and Li Ning.

Puma’s shares jumped double digits on the rumors, but the operational crisis remains: multiple profit warnings, weak demand, and a market value that has halved in just one year.

The Details

📉 Stock plunge: Over the past twelve months, Puma has lost more than…