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These Cities Are Expected to be China’s Richest in 10 Years

Posted: 12/12/2014 10:00 am

If you currently own a home in Dongguan or Foshan, you may want to hold on to it. According to one of China’s top think tanks, the two cities are poised to become two of the country’s richest in the next 10 years, reports

The study, conducted by the Chinese Academy of Social Sciences, looked at 294 Chinese cities, and created a list of what they predict to be the 22 wealthiest in the next 10 years. Factors included the level of the city’s development over the last five years, and potential competitiveness both at home and abroad. While traditional top tier cities such as Beijing and Shanghai made the list, Dongguan and Foshan are expected to make the largest economic gains over the next decade.

According to the Academy, Foshan, “inspires innovation for private enterprise”, and “enjoys great geographic advantage with bright economic prospects”.

Dongguan, the southern boom town that has struggled to distance itself from its reputation as China’s sex capital, made the list in large part due to the Pearl River Delta’s overall development and close economic ties with Hong Kong and Macau, said the academy.

The other cities on the list include: Tangshan, Suzhou, Hefei, Nanchang, Shenyang, Tianjin, Chongqing, Chengdu, Nanjing, Wuhan, Changsha, Ningbo, Sanya, Dongying, Jilin, Liuzhou, Kaifeng, Jiaxing and the western Taiwanese city of Taichung.

Photos: Reuters 


Here’s What Your Car Says About You… According to Chinese Tastes

Posted: 11/28/2014 10:09 am

mercedes benz car show modelChina’s rich aren’t alone in distinguishing themselves by the products they own, but the traditional element of “face” in China certainly ups the ante. One of the most popular ways to express your individuality in China is by buying a car that projects the image you want to send.

A fascinating report from Hurun Research Institute breaks down how Chinese people view the owners of specific luxury cars.

READ: 80% of China’s Rich Send Children Abroad to Study, Highest in World

Not surprisingly, Audi seems to be the most respected brand. Chinese say driving an Audi commands respect from others as owners are believed to be mature, experienced government officials, the highest class in China.

If you drive a Mercedes-Benz, Chinese people believe you are a successful, cultured entrepreneur. In fact, of the eight brands included in the survey, people believe those who drive a Mercedes have the most money.

READ: Tesla to Expand to Guangzhou and Shenzhen Despite Consumer Apathy

People who drive a Cadillac are seen as mature and successful, while drivers of Land Rovers are perceived to be tuhao with new money and willing to show it off.

Even though Infiniti projects glamour and fame, those surveyed say those who drive Infiniti cars probably have the lowest earning power.

Just as every high school has its brown-nosing overachiever, Volvo takes the role of the do-gooder in the bunch by projecting an image of being highly educated, family-oriented and morally upright.

READ: Ferrari Closes Dealerships As Luxury Car Sales Fall Across China

Out of the group of luxury cars, it’s BMW that is the most problematic. Perceived by others as being crass and materialistic, BMW owners believe they project an image of sophistication and positive attitudes. However, out of all the negative news associated with luxury cars in China, 70 percent have to do with BMWs.

It doesn’t help that Chinese have long had a nickname for drivers of BMWs based on the brand’s initials. Translated into English, it means “Don’t Touch Me.”

dont touch me bmw biemowoThe Hurun survey was done between February and October this year and involved 100 car owners of the eight brands in select cities around China.


Photo: chinaz, gongchang


Hebei Couple Drops RMB 200 Million on Tackiest Wedding Ever

Posted: 11/27/2014 10:00 am

If you think you’ve seen it all when it comes to crass, rich Chinese flaunting their vast wealth, you haven’t seen the worst of it. Forget about the bride in Fujian who was decked out in layers of gold jewellery, or the young Chinese model who sleeps in a bed covered with pink RMB 100 bills. A couple in Tangshan, Hebei Province have outdone them all, dropping RMB 200 million on their wedding parade, which included 30 Rolls-Royce Phantoms, a Ferrarri, and luxury motorcycles.

The parade of wealth included Li Xiang, Hong Kong actor Zhang Weijian, and singer Xuanxuan. The event attracted no shortage of attention on Weibo, with over 37,000 user commenting on the gala.

Below are some photos of the wedding extravaganza:

30 Rolls-Royce Phantoms were present at the wedding…

… and a Ferrari.

Li Xiang

Zhang Weijian

Photos: Internet


80% of China’s Rich Send Children Abroad to Study, Highest in World

Posted: 11/25/2014 9:08 am

cambridgeChina’s wealthy want a western education for their children. An astonishing 80 percent of the country’s upper-class are sending their kids abroad to attend school, the highest rate in the world by far. Ten percent of Germany’s rich send their children away for school, while only five percent of the French upper-class do the same. In Japan, this figure stands at one percent.

The Hurun Research Academy said in its report that millionaires usually send their kids abroad at 18, while multi-millionaires do it when they are 16. The top choice for an overseas education is the USA, followed by Australia, Canada, Switzerland, New Zealand, Singapore, France, Japan, and Germany.

The report says Chinese children with an overseas education will help the country grow:

The long-term interactions and studies made by these children overseas will definitely ensure the success of the internationalization of China’s economy.

Photo: liuxue360


Chinese Elite Pay Top Dollar to Be More Refined

Posted: 11/24/2014 5:36 pm

etiquette classBeing polite can be as simple as saying “please”, or as complicated as spending thousands of dollars to become more refined. As Chinese parents look for any competitive edge they can get for their children, the complicated option is becoming the preferred choice.

There is a mounting interest in several schools offering etiquette classes for China’s elite, and they reveal a progression that only money can bring.

James Hebbert, managing director of Seatton, a British culture and etiquette company in China, says after procuring a fortune, happiness, and security, there still are things left to get.  ”You see this with developing countries — they go through a ‘bling phase,’ but then they move onto a more elevated level of discernment.”

“My students were the ones who were buying Hermes bags 10 years ago,” said Sara Jane Ho, the founder of Institute Sarita, a finishing school. “Now they are holding themselves to higher standards and have deeper desires.”

etiquette classSpecifically, it looks like the Chinese rich want to use proper etiquette as a way to gain a competitive edge in order to gain more business opportunities. As the trend continues and competition between applicants heats up, Ho explains “children need that edge to get into a good boarding school or top university.”

Joanne Milner, CEO of Debretts, further explains how learning proper etiquette is a way to better adapt to a broader range of situations. ”Studying abroad can bring a heavy academic and cultural shock. We are teaching the students how to interact in any global environment.”

However, as these teachers explain, learning etiquette is a profound experience that fundamentally changes a person’s culture. “Learning and practicing international etiquette is a statement of your openness and awareness of the fact that people you are with may see the world differently,” Ho said.  Hebbert was much more direct by saying, “[Learning proper etiquette] is more about teaching and appreciating a different culture.”

etiquette classClasses range in price from hundreds to tens of thousands of dollars, and wealthy Chinese have no qualms opening their wallets.

Contemporary Chinese people from the Mainland have been criticized as “crass” or “uncivilized”, even by their own government. There are several campaigns to stop Chinese from jaywalkingcutting into long queues waiting to board subway trains, and even to encourage citizens that ordinarily don’t trust each other to perform good deeds. CCTV even aired a controversial advertisement admonishing Chinese to behave when overseas.

That said, Chinese are nevertheless are very polite — to people that matter to them. Acts of politeness are routinely done to strengthen relationships. But that means when queuing for the subway, “politeness” can be overlooked in a crowd of strangers while etiquette would demand you consider other people’s needs before your own.

However, if you can afford etiquette classes in China, chances are you aren’t taking the subway anyway.

Photo: CNN Money, the Beijinger


Guangdong Woman, with RMB 44 Billion, Named China’s Richest

Posted: 10/22/2014 8:55 am

Two Chinese women standing in front of a Cartier shop

Yang Huiyan, a 33 year-old woman from Shunde, Guangdong, was voted the richest woman in China for the fourth year in a row by Hurun Research Institute, reported Nandu. Hurun valued Yang’s net worth at a whopping RMB 44 billion ($7.2 billion).

A majority shareholder of her father’s real state company, Country Garden Holding, Yang has nabbed the title more than any other woman in the nine years Hurun has published the rich list. Most of the other women on the list come from the property and financial sectors, accounting for 28 percent and 14 percent, respectively.

Guangdong is home to four of the 50 women on the rich list, Hurun said. The list’s threshold is RMB 5 billion, a 36 percent increase over last year, while the median average wealth for all women on the list is RMB 10.9 billion, a 14 percent jump over the previous year.

While the wealth of China’s richest women is no doubt impressive, it’s still disproportionately lower than the wealth of their male counterparts. Hurun’s wealth threshold for men is RMB 20.5 billion and the median average was RMB 45 billion, more than four times that of women.

Shenzhen and Beijing remain the two most friendly cities for female entrepreneurs, each producing nine women on the list, followed closely by Shanghai.

The title of the country’s second richest woman went to Chan Liwa, president of Fu Wah International Group.

Photos: Red Luxury 


Photos of Dog Swirling in Washing Machine Meant to Incite Hong Kongers

Posted: 09/7/2014 3:13 pm

washing machine dog animal abuse hk mainland tensions

Jacky Lo is a Cantonese-speaking Facebook user who commonly uploads pictures of his fancy car, a nice bottle of wine, or a loose pile of rolled-up cash. However, Lo decided to one-up himself on August 12 when he uploaded pictures of a dog in a washing machine:

washing machine dog animal abuse hk mainland tensions

Lo’s comments attached to these photographs read:

Here’s a really fast way to help your dog take a bath: first, soak it, then wash it, afterwards get rid of the water, and there you go! All clean, without the hassle!

Even though the picture gallery suggests that this small dog survived his ordeal with pictures depicting a wet dog at its tail end, Lo confirms to a Facebook friend that the dog has indeed died.

Bad Canto provided a translation of this conversation:

washing machine dog animal abuse hk mainland tensions

Agnes: Is the dog dead?

Lo: Yes! You wanna see it?

Agnes: OK! You’ll certainly get famous!

Lo: Whatever. I’ve nothing to be scared of.

Agnes: DON’T delete anything from your Facebook!!! Including THIS album!

Lo: I don’t care what you guys are going to do! Do I look like I’m afraid of you guys?

Agnes: That means you don’t think animal cruelty is a problem?

Lo: I don’t even think human cruelty is a problem, not to mention cats and dogs!

This conversation took place just as the pictures started to go viral on the Hong Kong internet. Lo’s next Facebook update came on September 1 when he wrote a rant about the radicalisation of Hong Kong youth.

Here is the translation, again provided by Bad Canto:

jacky lo rant

There are so many young and radical Hongkongers who treat Chinese badly. I only want to question your mindset: To all noble Hongkongers, where did you ancestors come from? If your ancestors came from China, could I interpret that “the ancestors of Hongkongers are Mainlanders. Therefore, Mainlanders are the ancestors of Hongkongers!” You are Chinese. We are of the same race and speak the same language. Our differences are just government systems, law enforcement, and law. I hope you can understand the relationship between people and the government. Don’t blame the Chinese people simply because you hate the Communist Party. You must think rationally!

On September 4, Lo made wrote another rant about Hongkongers, perhaps stemming from the attention his “dog in a washing machine” photographs were getting. Again, from Bad Canto:

jacky lo rant

The intelligence of young Hongkongers drives me nuts.  They listen to commands of the reactionaries and completely lose their rationality. They have become running dogs of the politics and have no independent thinking. They are so silly to say “Everybody hates Chinese!” Haha, duke, from where did you learn your history lessons? Among the 1 million Hongkongers, how many of them were indigenous residents? (* 1M Hongkongers refers to the population of pre-WW2 Hong Kong). If your ancestor didn’t come from China, could it be that your are the products of the Japanese during WW2? Young Hongkongers are doomed by anti-China politicians!

Before we conflate all of these different elements into a single generalisation, we should remember that Lo likely enjoys the bad attention he receives. As a troll of the highest level, Lo appears to have gotten his standing through his wealth and family. Speaking out against him is something he seems to crave.

If Lo isn’t at all “afraid of you guys”, then he won’t mind talking to the SPCA.

Here’s Lo, followed by more pictures from the August 12 photo album:

jacky lowashing machine dog animal abuse hk mainland tensions

washing machine dog animal abuse hk mainland tensionswashing machine dog animal abuse hk mainland tensions

[h/t Bad Canto]


Photos: Bad Canto, Facebook


More Chinese Billionaires Come From This Guangdong Town Than Anywhere Else

Posted: 08/26/2014 7:02 pm

billionaire birthplaceWe know wealth is accumulating in China faster than anybody thought possible, but where do these billionaires come from? The answer might surprise you.

A study jointly published by English business magazine Spear’s and financial consulting company Wealth Insight has listed the cities which spawned the most number of billionaires. Beijing isn’t on the list at all, and Shanghai turns up with five born-and-raised billionaires. But the top city in Mainland China? Foshan, in Guangdong Province.

It tied with Hangzhou for top spot in Mainland China, but both were behind Taipei (eight billionaires) and way behind Hong Kong with its 17.

Globally, it may come as no surprise that New York finished first.

billionaire birthplace

While there might be something in the water in Foshan, it has a long way to go before it gets near New York’s crown. One in every 21 New Yorkers is a millionaire, a ratio not likely replicated in the PRD anytime soon.


Photos: Business Insider


Bigwigs Demand Bikini-clad Babes Buff BMWs in Beijing

Posted: 07/24/2014 4:52 pm

bikini car wash beijing sexist

bikini car wash beijing sexist

A car wash in Chaoyang District of Beijing is now offering its clients a special, priority service. For the low low price of RMB 880, clients can watch as bikini-clad attendants wash the car, providing care and attention to all of your tailpipes and rims. The catch? It’s by appointment only.

One could see this as a shrewd marketing move, but the origins of this service are much more humble: it started because clients wanted it.

We’re sure there’s some logic there, somewhere: you’ve amassed a fortune in order to purchase an extremely expensive luxury item, and now you want to pay top dollar to have someone take care of your investment based upon how skimpy their work uniform is.

Check out the photos below.

bikini car wash beijing sexistbikini car wash beijing sexistbikini car wash beijing sexistPhotos: Asia Today, People’s Daily Online


Survey: Chinese and Western Rich Want Different Things

Posted: 06/21/2014 5:03 pm

Chinese people love to buy property. It’s not only considered a great investment for Chinese people, but it’s also a key part of the culture that involves leaving something useful for their offspring.

But when it comes to buying luxury real estate, do the super rich in China have the same taste and requirements as their counterparts in the developed world? The recently published “Sotheby’s International Realty Luxury Lifestyle Report” shows Chinese preferences are basically “same same, but different.”

The report surveyed affluent consumers in the United States, United Kingdom, Brazil and China.  Compared to the developed world, there are more high net worth individuals in China and they are more likely to purchase a “lifestyle” property as their primary residence.

Among the Chinese surveyed, 98% want a lifestyle property while 74% in the US said the same.

Among those Chinese, 54% want waterfront property.

There was also a big difference in other demands:

A whopping 93% of affluent Chinese consumers surveyed said they would like to make a “legacy home purchase”, which is a property intended to remain in the family or be gifted to children, while only 64% of Americans said the same.

The Affluent Chinese Consumer

Ninety-six percent of affluent Chinese consumers surveyed said they’d bought a property within the past three years.  Wealthy Chinese are not only investing in property, they consider themselves part of the investor class.  Eighty-two percent of Chinese luxury real estate purchasers consider themselves “investors”, while only 67% of Americans think the same.

Here are some additional stats on the priorities of Chinese property investors:

You can read the full report here.

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