Picture a world where the champagne never stops flowing, the music never stops playing, the jewels never come off and the parties never end…

Now throw in haute cuisine aboard mega yachts, flights aboard gilded private jets, exclusive luxury property launches and private previews of the latest couture collections.

Stir up the action with a star-studded guest list and you’re in for three days of absolute indulgence at Hainan Rendez-vous.

From April 2 to 4, society’s luminaries, A-list celebrities, seasoned jetsetters and connoisseurs will descend onto the sparkling waters of Hainan Island for a unique extravaganza that celebrates luxury living.

To celebrate the Universal Exhibition in Shanghai, Chanel is launching the Chanel Shanghai accessories collection inspired by the delights of China.

This limited-edition collection, which includes bracelets, necklaces, handbags and earrings, will debut at Chanel’s five mainland boutiques this May.

Prices for antiques in China have risen sharply over the past five years and now galleries all over the world over are waiting for the nation’s cashed-up collectors to spread the wealth overseas.

Speaking on the sidelines of the Netherlands’ Tefaf Maastricht, New York gallery director James Hennessy said that internationally things were looking up in the antique market, but all eyes were on China.

“Business is better than last year,” Hennessy told the Bloomberg news agency.

“The market for Chinese art expands with the Chinese economy. There are thousands of collectors in mainland China who are seeking out works in the West.

China’s seemingly unquenchable thirst for wine has ousted America as Bordeaux’s number one client outside Europe, latest figures showed Friday.

With overall exports down a large 23 percent in 2009, vintners are now looking to the East to drain their cellars.

“China has become our first client outside the European Union,” said Alain Vironneau, president of the CIVB, Bordeaux’s wine trade body, in a press conference, hailing both Hong Kong and China as “dynamic”.

China’s buying power comes at a particularly opportune moment as France’s leading wine region struggles to survive the economic crisis.

China is expected to be the world’s seventh largest wine consumer by 2013 as the nation’s thirst for vintages continues to grow amid an economic boom.

The country will consume around 1.26 billion bottles of wine in 2013, an increase of about 32 percent from 2009, according to findings of Vinexpo, organiser of one of the world’s largest wine and spirits exhibitions.

China was the eighth largest wine consumer last year, behind leader Italy, France and the United States in the top three spots.

General Motors is to wind down operations of its Hummer vehicles - after failing to complete a planned takeover by a Chinese firm.

GM did not comment on why the sale to China-based Tengzhong had collapsed. Reports have said Beijing had refused to approve the purchase.

GM agreed to sell the brand last year, as it offloaded famous names it owned and went into bankruptcy protection.

Hummers were originally built as military off-road vehicles by a company called AM General.

The brand took off as US motorists flocked to the sport utility vehicles favoured by celebrities including Arnold Schwarzenegger.