Chinese Millionaires Go ShoppingBy
China now has 960,000 millionaires, up 9.7 percent from the previous year, according to a survey released on Apr. 12 by the Shanghai-based Hurun Wealth Report, which tracks China's affluent, and market researcher GroupM Knowledge. The rich are paying top dollar for their toys and trinkets.
Racing Pigeons. China Daily reported in mid-January that a Chinese buyer in Belgium paid €156,000 ($229,000) for a racing pigeon named Blue Prince at auction, setting a world record.
Tibetan Mastiffs. These guard dogs are in demand. A local website, qingdaonews.com, says a Chinese coal magnate spent ¥10m ($1.5 million) in March for a Tibetan mastiff named Sensation (Hong Dong in Chinese).
Aged Liquor. Xinhua news agency says two decades-old bottles of Moutai and Wuliangye were auctioned for $224,000 and $782,000.
White Jade. At a March auction a Chinese bidder paid $18m for a jade seal once used by Emperor Qianlong.
Data: GroupM Knowledge—Hurun Wealth Report 2011, China Daily, Xinhua News Agency, Belgian Embassy in Beijing