They saw, they conquered, they came into riches... and now they're getting the hell out of here. At least, that's what a new study of China's rich purports. Released last week by China Merchants Bank and consulting firm Bain & Company, the "2011 China Private Wealth Study" says that 60% of Chinese with more than $15 million to their name have now left or are planning to leave. more ›

A recent survey has found that Beijing and Shanghai ‘could’ become the 3rd and 4th choice of city for billionaires to live. About 14% of the respondents in East Asia to Citi Private Bank's Wealth Report 2011 said they would consider moving to China. more ›

That's like saying Chinese really want their kids to go to Harvard. But yes, one of the most recognized brands in China is also one of the most popular brands in China. Urbanatomy points us towards a recent luxury report by consulting firm Bain & Company that rated the luxury goods most desired by Chinese. more ›

@imagethief: I think any yacht not big enough to drive your his-and-hers Porsche Cayennes onto isn't sufficiently vulgar. more ›

This article also appeared on The China Beat and was republished with permission here. It is written by Caroline Reeves, Assistant Professor of History at Emmanuel College. more ›

CNReviews has an interesting translation of an article on JFDaily about Shanghai's "seven social classes." Of points to note: it seems that while there's only one "poverty" class, there are three dedicated to the levels of "very wealthy." Apparently the millionaires of Shanghai act differently from the billionaires, who then act differently from the "reserved wealthy." The biggest surprise for me: who knew China had been rich long enough to have "old money" already? more ›

Perhaps even more interesting than the fact that Bill Gates and Warren Buffett, two of the richest people in the world, were coming to China as part of their Billionaire's Pledge program was the reaction of the Chinese to their call: silence and suspicion. Invitations to join a Sept 29 banquet in Beijing for China's super-rich have gone largely unanswered. more ›

Alas, we apparently weren't rich enough to get on the guest list for China's first "Private and Business Jet Expo" ever, held over the weekend in Hongqiao airport, since we just found out about it now. People who could schmooze their ways in were treated to private jet aircrafts displays, demonstration flights and exhibition pavilions, as well as some measure of controversy. It seems that private jets have yet to be added to the list of Chinese goods under the "luxury tax," turning private aviation pollution "into a legal vacuum where no related department is involved in" - an especially sensitive issue considering both the rising wealth gap and China's growing environmental concerns. more ›

Holy cow, no wonder China is now cracking down on naked officials! A study conducted for Credit Suisse AG found that as much as $1.5 trillion in income made here in China is strictly "off the books." That represents nearly 30% of China's gross domestic product, and would make the average urban disposable household income 32,154RMB (90% more than official figures). Well - it'd be one thing if it had been distributed evenly amongst the urban populace, apparently most of that extra cash is going to the top 10% of Chinese households. more ›

When I'm looking for an ayi, I want someone who knows how to iron, separate whites from colored, clean different types of surfaces and... write a thesis on the pros and cons of real politik. Okay, not really. But if I , I'd be in good company, according to Shanghai Daily. more ›

• Dvir Bar-Gal is an Israeli journalist who is now trying to restore as many old Jewish tombstones, smashed up and scattered during the Cultural Revolution, as he can. [CNNGo]
• Ever heard of Shanghainese rap group Double Poom? Neither had I, until I came across this delightful little profile in Shanghai Daily. [Shanghai Daily]
• Shanghai has the third amount of millionaires in China, after Beijing and Guangdong Province. There's about 122,000 of them in the city, apparently, and they are "becoming sophisticated in the way they spend their money, according to the Hurun Research Institute. Really. [Shanghai Daily]

If the news this week is anything to go by, it's not too bad a week for women here in China. Sure, a UNDP report calculated that there were 96 million of us missing in East Asia - but we knew that already (and besides, at least in the cities, the gap seems to be narrowing). Anyway, here's three reasons why the last few days have been pretty stellar on the femme front. more ›

We already know that there's a pretty great amount of resentment towards the rich - not to mention, a wide perception of corruption - here in China, so it's probably not surprising that a People's Daily poll recently discovered that over 90% of people think the neo-rich got their wealth by networking with government officials. more ›

You know that feeling you get when you're on Yan'an Xi Lu and some kid in a bright cherry red Maserati drives by, revving his engine, and you scoff and think “What an over-moneyed dick. I'd love to key that guy's car”? Apparently an overwhelming majority of people in China have that times a gazillion. more ›

Despite Shanghai getting the reputation for being filled with rich people, it seems that there are actually more billionaires and millionaires in Beijing. According to the Hurun Report, a survey that specifically looks at the rich, there are now 143,000 multimillionaires and 8,800 billionaires in the capital city, compared to just 116,000 multimillionaires and 7,000 billionaires in Shanghai. Surprising, right? We guess this is why you've got to have 3 million RMB more to be considered a "new aristocrat" up north. Altogether, China has 825,000 people worth more than 10 million yuan and 51,000 individuals with over 100 million yuan. more ›