ArticleJanuary 12, 2016
As the number of high net worth individuals in China increases, people are developing a taste for luxury. According to The Hurun Report, a magazine known for its annual “China Rich List”, the number of dollar billionaires in mainland China surpassed that of the US for the first time in 2015, with 596 to the US’s 537. As a result, luxury pastimes from the West, such as car shows, auctions, yachting and polo, are making their way into the country. Even services like finishing schools are flourishing. What’s interesting is that these so-called Western luxury pastimes are taking on Chinese characteristics.