Swimming, BMWs and Touring France are in With China’s Rich

by VR Sreeraman on  January 12, 2008 at 3:32 PM Lifestyle News   - G J E 4
Swimming, BMWs and Touring France are in With China’s Rich
Swimming, driving BMW cars and holidaying in France are among the preferred lifestyle choices for China's wealthiest people, according to an annual survey released on Thursday.

Swimming edged out travelling as the favourite form of recreation for the 660 Chinese US dollar millionaires interviewed, said the fourth report of the Preferred Lifestyle and Brands of China's Richest.

Golfing ranked third in the list of most favoured recreation as China's rich view it as a good chance to socialise with their peers, according to the report compiled by Shanghai-based accountant Rupert Hoogewerf.

France is considered the best foreign travel destination by the millionaires surveyed, of which 104 have net wealth of over 10 million dollars, while Yunnan province in southern China was seen as the best domestic luxury destination.

German luxury car brand BMW was selected as the best overall luxury brand, followed by French luxury goods trademark Louis Vuitton and German carmaker Daimler AG's premium brand Mercedes-Benz.

Cartier topped the jewellery brand list while British financial group HSBC was considered the best bank for offshore personal banking.

The report said 68 percent of the millionaires, surveyed between May and November last year, are confident on the outlook of China's booming economy for the next two years.

Stocks and property were the top two investment options, selected by 33 percent and 26 percent of millionaires respectively, it said.

Thirty-six percent of the millionaires listed modern artwork as their priority for collecting, but only 16 percent said they favoured antiques, citing the difficulty in telling counterfeits from genuine articles.

Source: AFP

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