Eighty percent of China’s super rich send their children abroad for education, mostly to the US as the most popular destination and with the UK on the second place, told Rupert Hoogewerf, founder of the Hurun China Rich list on Friday, according to the ECNS.
More than 80 percent of China’s super rich send their children abroad for better education, said Rupert Hoogewerf, founder of Hurun China Rich List.
Hoogewerf made the remarks Friday afternoon at an economic forum held in Guangzhou. Forty-three percent of the children study in the United States and 34 percent in Britain, he said.
China has 1.05 million individuals with personal assets of at least 10 million yuan, a year-on-year increase of 3 percent, the biggest growth in the past five years, according to the 2013 Hurun Rich List.
Around 40 years old, each super rich person owns three cars and four expensive watches on average, and 90 percent are men, Hoogewerf said.
Hoogewerf also praised Guangdong for breeding the most private enterprises and the most millionaires on China’s 100 richest people.
He said rich Cantonese tend to keep a low profile and there are more millionaires than is estimated. When asked how to find the “invisible millionaires,” he said they collect information about successful businesses through local officials and charities.
Devastating pictures of tourist areas in the Golden week of October showed again that taking a holiday together with 650 million others is not always a good idea, even though a growing number might go abroad.
The now adjusted system of Golden Week was introduced to encourage consumer spending – still high on the political agenda. But would a paid leave, where you can decide yourself your holidays, be a good alternative? Some love the ideal, others loath it. And what is worse, many Chinese would most likely not take their holidays, but try to cash in at the end of the year. That would cause consumer spending to drop.
What would you do? How did you spend your holidays in October, and what would be a good alternative?
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Our sustainability expert Richard Brubaker from Shanghai explained at the China Weekly Hangout on October 10 what features in sustainability in Singapore could be applied in China too, and what it takes to get it done. Moderation by Fons Tuinstra of the China Speakers Bureau.