China's rich like European cars, liquors and watches, but the most popular holiday destination is Australia, according to a major new report on the lifestyles of the Mainland's rich and famous.
Beijing's economic elite choose the United States as their favourite travel destination, while the Shanghai chic, based in the financial and industrial capital, plump for France and other European locations. But Australia came out top on average, according to the study by Hurun, the image and brand consultant company.
Those who control the wheels of industry prefer a set of European wheels on the road. Bentley, Rolls-Royce, Mercedes Benz, BMW, Porsche and Ferrari lead the sector. The only North American vehicle to make the 'A' list was Buick, judged to be maker of the best car for business trips.
Round the clock deal makers like watches, jewellery and fashion from Vacheron Constantin, Cartier, Rolex, Montblanc and Giorgio Armani. A look inside boardroom drinks cabinets found Hennessy, Chivas Regal and Dom Perignon were chosen as the best brands of cognac, whisky and champagne, respectively.
The Hurun 2006 report is the product of interviews with 600 Chinese business people with a personal estate above RMB 10 million (Euros 1.02 million or US$ 1.23 million) and covered categories ranging from favourite yachts to the best television programmes.
Mica Quinn, of Hurun, says the purpose of the revealing the tastes of the richest in a country where the average salary has been estimated at only Euros 165 a month, is to encourage aspirational living.
He explains: "China has changed a lot. To have money and make a statement about it is no longer seen with scorn, as in the past.
"Nowadays, if we ask the youth what they expect for the future, the answer is 'to be rich' ".
He adds: "China is in an economic growth process and the office workers of today may become the millionaires of tomorrow. Therefore, the luxury brands need to have exposure and to be known by people of all ranks." According to a study done by the Academy of Social Sciences of China, about 24.6 percent of the Chinese between 16 and 70 years of age now consider themselves middle class.