Rich Chinese splurge on sportswear

GPS sport watches, compression leggings and hydration packs are the new must-haves for wealthy Chinese, pumping up the multibillion-dollar sportswear industry at a time when China's elite are reining in spending on more traditional luxury brands.

Extreme sports apparel and expensive activewear is in vogue thanks in part to government promotion of sport ahead of the 2022 Winter Olympics in Beijing, and the purchase of the Ironman brand by China's richest tycoon last year.

The market is also forecast to grow with the government's decision to relax its one-child policy after 36 years, and companies like US-listed Under Armour is lining up to cash in.