Gift-giving has long been an integral part of life in mainland China and now a new survey has lifted the lid on just what it is the country’s rich have been handing out.

The “Top 10 Gifts for the Chinese Luxury Consumer 2012″ was compiled by Hurun Report and looked at what China’s wealthy liked to give to their friends.

The timing of the report is perfect, too, as the Chinese New Year period is traditionally the time when gifts are given to friends, family and business associates.

China’s Shangong Heavy Industries has bought the Ferretti Group, taking over 75% of the Italian shipmaker’s capital.

Sleekly tailored with gleaming chrome accessories and luxurious saloons, the Ferretti Group designs some of the most exclusive yachts in the nautical world.

Ferretti has 8 yacht brands (Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line) and owns a total of 8 shipyards.

Starwood Hotels & Resorts opened its tallest St. Regis property last week in Shenzhen, China, with plans to continue its global expansion in 2012.

Following recent openings in Bangkok, Tianjin and Sanya Yalong Bay, The St. Regis Shenzhen marks the brand’s fourth hotel opening in Asia in the last six months.

The St. Regis now occupies floors 72-100 of the landmark Kingkey 100 building, the tallest building in the city.

Nokia’s luxury brand Vertu is celebrating the Chinese new year with a luxury dragon-themed mobile phone based on its Signature collection.

Each quad-band dragon phone comes in stainless steel with emeralds, black steel with Rubies, or gold with diamonds.

The handsets cost about $20,800 ; buyers get a leather case, a charging base, and one year of Vertu Concierge service free.

In celebration of the Year of the Dragon, Coach has collaborated with Chinese artist Zhang Lan to put his stamp on a collection of exclusive items.

Mr. Lan’s dragon illustration, in the traditional style of ink painting, adorns Coach’s iconic tote shape, as well as an assortment of matching small leather goods.

The gold design pops against a backdrop of the brand’s Signature pattern in mahogany.

Shanghai Tang’s Spring 2012 ad campaign has been released and it features Hu Bing and Lin Chiling photographed by Chen Man.