Society
Wealthy Chinese spent less but upbeat
By Zhao Chunzhe (chinadaily.com.cn)
Updated: 2010-01-15 17:01
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Each wealthy Chinese with a net worth over 10 million yuan ($1.5 million) spent about 300,000 yuan ($43,942) less in 2009 due to the global financial crisis but they remain upbeat about economic outlook, according to research firm Hurun's latest study, Chongqing Evening News cited.
There are more males in the rich club than females and they spent more. Multi-millionaires in Beijing spent the most with an average of 2.2 millions yuan ($322,245) last year.
One in six billionaires plan to buy private jets while half want to buy a yacht. Sightseeing has surpassed luxuries to cost the most.
An extra 12 percent of the rich in the Hurun report are more optimistic about the economic outlook this year than in 2009, reports said.
