Swaggerish1s

We would take the pride in the name of luxury to mention the most commonly used phrase when talking about China – “The rise of China, if it continues, may be the most important trend in the world for the next century.” There is no longer any reason to wonder if China will continue to rise and there’s no wondering what the trend would be. The latest Hurun Report on China has bombshell figures revealing the number of millionaires in Beijing. According to the report, (hold your breath) there are 143,000 multimillionaires and 8,800 billionaires in Beijing. Typically dismissed by the popular press as “copycat barons from China,” Shanghai has 116,000 multimillionaires and 7,000 billionaires.

Beijing’s elite not only spends at least 87 million yuan on property, cars and other luxury goods but have the taste for luxury brands like Cartier and Louis Vuitton. They own at least three dwellings of their own, including a villa, like the 400-sq-m Ziyu Shanzhuang villa costing 24 million yuan, a luxury apartment in the downtown area for work purposes, and a Siheyuan courtyard house probably in Houhai. It’s a long list and it might offend a few of our friends who are trying to cope up with the recession. While a few of us might be talking if this report is authentic, but luxury brands know where to hit the stores first.