By Erik Crouch
Image via Canadian Pacific
The Chinese “super rich” is an exclusive club of about 1,000 people, with an average wealth of US$860 million. A few notches below—those poor sods who are simply wealthy—now number at 10.26 million people, each with between $100,000 and $1 million in their coffers. This new wealthy class aren’t exactly the snow-polo and Ferrari-stunt types, but they are hobbyists. According to a Forbes report, the wealthy spend less time swimming in bathtubs full of yuan, and more time traveling, driving cars, collecting antiques, and buying luxury goods, properties, and modern art.
South China Morning Post reports:
More than a third of them [the wealthy] were born in the 1970s and the top three industries they were involved in are finance, trade and manufacturing, its study said.
Three-quarters of respondents surveyed said they had no plan to emigrate, but the same percentage expressed a wish to send their children to study overseas. The United States was their first option. […]
Around 55 per cent were male, more than half were university graduates, and they had average disposable assets of 1.33 million yuan.