News Summary: Topshop opens in Hong Kong

CHINA-BOUND: British fashion chain Topshop opened its first Hong Kong location, the latest Western brand to brave the city's astronomical rents, to crack the lucrative China market.

EXPANSION PLANS: Topshop seeks Hong Kong as a stepping stone to mainland China. The company is looking for possible locations in Beijing and Shanghai for flagship stores.

BACK STORY: Global brands have been opening stores in Hong Kong as they try to get a share of the spending by the increasingly affluent Chinese consumers. That's helped drive up rents in Hong Kong.