Chinese tycoons snap up Bordeaux chateaux

The world’s largest producer of alcohol from goji berries and an elusive tycoon have become the latest super rich Chinese investors to invest in Bordeaux wine estates. Already a prized investment for the increasingly wine-savvy Chinese, five more chateaux in the heart of France’s most renowned wine country have been snapped up in the past … Continued

China’s rich are young, single – and mostly male

They’ve become one of the world’s most influential social groups and now a little more light has been shed on the makeup of China’s rising band of rich. The HSBC corporation and international research company Nielsen have just released their findings into a survey that attempts to dissect the makeup of the richest 10 percent … Continued

The world’s billionaires 2011

Carlos Slim Helu remained the world’s richest person, but Asia is where today’s big money is flowing, Forbes magazine said in its 2011 list of the world’s billionaires. Slim, who is almost unknown to the general public outside Mexico, weighed in at a staggering $74 billion of net wealth thanks to his telecoms empire. Already … Continued

China biggest luxury goods market by 2020

China will be the world’s biggest luxury goods market by 2020 as its economy booms and an emerging middle class spends a growing chunk of their cash on high-end items. Over the next decade, Chinese consumers — including a surging number of billionaires — will account for 44 percent of global spending on goods such … Continued

Chinese boost prices in world’s auction houses

A Chinese face or two in the crowd at the world’s auction houses often means one thing: the gavel will fall on a price far beyond the seller’s wildest dreams. Fierce bidding by Chinese buyers for a vase at a small London auctioneer in November, for example, drove the price up nearly 40 times beyond … Continued

2011 Hurun Best of the Best Awards

Luxury-brand awareness is growing among China’s super rich, who recognize 20% more of the lavish brands than they did last year, according to the Hurun Report. The 2011 Best of The Best Survey, which interviewed 401 Chinese mainland millionaires, each with assets of more than 10 million yuan ($1.5 million), said the super rich in … Continued

China opens skies to private air transport

After years of waiting for China to lift heavy restrictions on airspace, wealthy travellers and aircraft manufacturers have reason to celebrate — the country’s skies are opening up to private flights. The makers of helicopters and small business jets are predicting a major bump in sales — France’s Dassault Falcon just moved its Asia office … Continued

Tiffany eyes aggressive expansion in China

US jeweller Tiffany & Co is aiming to make a major push into China as it seeks to tap a growing appetite for luxury goods among the country’s new wealthy. “China will rapidly become the place where we will have the greatest number of new stores,” Tiffany chairman Michael J. Kowalski said on Tuesday. The … Continued

China’s mainland has over 875,000 multimillionaires

The Hurun Research Institute published the 2010 Hurun Wealth Report today for the second consecutive year. The report analyses the number and distribution of China’s wealthy across the nation’s major cities and provinces. The report shows that there are 875,000 people with more than RMB 10million (EUR 1.1M / USD 1.47M) in China today, an … Continued

What crisis? China’s billionaires live it up

While the rest of the world struggles to bounce back from the global financial crisis, China’s billionaires are living large, snapping up luxury products at a breathtaking pace. Beijing’s Jinbao Street is the must-visit address for billionaires with yuan to burn. Once a maze of alleys, the 800-metre (yard) stretch of road is now home … Continued

China: second largest billionaire population

It is official that China has become the country with the second largest population of billionaires in the world, just behind the US. Revealed by the World Entrepreneur magazine, a list of 2007’s top 500 Chinese magnates determined their combined wealth more than 587 billion dollars. Though the list included many from Chinese mainland, Taiwan, … Continued