There are about 2.7 million HNWIs (High Net Worth Individuals) in China each of whose assets totals over $0.95 million. And, the number of ultra high net worth individuals (UHNWIs), each with personal assets worth over $15.8 million, reached 63,500.
Over 60% of HNWIs in China are collectors; and, watches are their favorites. The collections mainly are from their personal interest.
Hong Kong is really a paradise to shop and 73% of Chinese HNWIs like to shop there during a year.
Watches are favored by males and cosmetics are favored by females in overseas shopping.
UHNWIs are tending to favor yachts and jets more recently.
HNWIs would like to send watches as best choices for gifts. They usually spend $24,000 per year on giving out gifts.
Although China’s real estate is not running so well in recent years, it is still HNWIs’ favorite personal investment.
Over one third of HNWIs in China have pets and 5% of pets owners have chinchillas.
Travel accounts for 19% of HNWIs’ total spending, and it is estimated that they will spend more on travel in the future.
Education is another huge spend of HNWIs, 85% of HNWIs like to send their children abroad for further education.
18% of Chinese have belief in Buddhism; 29% of HNWIs have belief in Buddhism.
Although most Chinese HNWIs are not used to online shopping, Internet is the first choice for them to know details of their necessary goods.