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Cartier, Bentley Top List of China Millionaires' Favorite Names

2010-01-18 09:58:17 Le-Min Lim

Chinese millionaires favor Cartier, Patek Philippe watches, holidays in the U.S. and Bentleys according to a survey by Hurun magazine. When it comes to first-class flights and cigarettes, they prefer local brands.

Air China Ltd. is the favorite airline for luxury flights and Chunghwa takes top spot for tobacco, based on Hurun’s interviews with 383 mainland Chinese, each with at least 10 million ($1.46 million). Hurun, which compiles China’s annual rich list, said in April that China has 825,000 of these high- net-worth individuals and they average 39 years of age.

“They have a greater awareness of brands,” Rupert Hoogewerf, Hurun’s Shanghai-based founder and chief researcher, said in an interview. “They are also more international-minded and keener to give their children a foreign education.”

Four of five surveyed plan to send their children abroad, preferably the U.S., for high school, undergraduate or post- graduate studies, said Hoogewerf. They are taking more time off, averaging 15 days a year compared with 11 days three years ago; each owns three cars and about five watches that cost $10,000 or more a piece, he said.

Chinese millionaires go to Sina.com to read news online, half of them want to buy a yacht in the future and 15 percent a private jet, the survey showed.

Local companies, China Guardian Auctions Co. and Beijing Poly International Auction Co., have replaced Christie’s International and Sotheby’s as the favorite art auction houses of rich Chinese, said Hoogewerf. Foreign art-auction companies aren’t allowed to set up wholly owned units in China.

Chinese Millionaires’ Favorite BrandsCategory                      BrandJewelry                       CartierWatch                         Patek PhilippeSports Watch                  RolexFashion Watch                 Louis VuittonLuxury Car (Business)         Rolls-Royce PhantomLuxury Car (Self-Drive)       Bentley Continental Flying SpurLuxury Sedan                  Mercedes-Benz S ClassLuxury SUV                    Audi Q7Luxury Performance Car        Porsche 911Executive Car                 Audi A6Luxury Whiskey                Royal Salute 21 Years OldPremium Cognac                Hennessy X.O.Premium Champagne             Moet & ChandonPremium Cigarette             ChunghwaCigar                         DavidoffArt Auction House             China GuardianExecutive MBA Program         Tsinghua UniversityFashion Label                 Giorgio ArmaniAccessory                     HermesSkincare                      ChanelLuxury Mobile Phone           VertuMobile Phone                  NokiaLuxury Hotel                  Shangri-LaSpa                           Banyan TreeAirline (First, Business)     Air ChinaOnline News                   Sina.comBusiness Newspaper            China Business News
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