Austerity marked the luxury goods industry, triggered off by the anti-corruption drive by president Xi Jinping. But the growth figures are back on track, says Rupert Hoogewerf, based on research by his Hurun China Rich report, released on Thursday, he tells the China Daily. Purchases are back on the 2013 level.
For years the trend seemed irreversible: China´s rich were leaving the motherland in troves. But in 2017 the trend has reversed, says Hurun China rich list composer Rupert Hoogewerf to the South China Morning Post. This year could be a turning point, Hoogewerf says about the findings in the Hurun Chinese Luxury Consumer Survey 2017.
China´s economic growth might be slowing down a bit, and its economy might not be the boost the global economy needs, but the luxury goods industry could be the exception. China´s consumers, whether at home or abroad, are still buying themselves silly.
President Xi Jinping might be spoiling the party a bit with his anti-corruption drive, but apart from the liquor departments, luxury goods are selling a lot. A few of the speakers at the China Speakers Bureau can give you some guidance.
The trend of China´s rich planning migration to other countries has increased to 60 percent in 2016, according to the latest report by the Hurun Rich list. A weaker currency and fear for a collapsing domestic real estate market are the main reasons, Hurun founder Rupert Hoogewerf tells in the South China Morning Post. The US topped the list, followed by Britain, Canada, Australia and Singapore.
The Hurun China Rich List has published its annual list of richest Chinese women. Guangdong, says Hurun founder Rupert Hoogewerf in Crienglish, has a special position in creating female wealth. Chen Lihua, 75, founder of Fu Wah International Group tops the list.
The Rupert Hoogewerf´s Hurun China IT List illustrated over the years where money in generated in China´s economy. IT-tycoons are super wealth creators, says Hoogewerf to the China Daily, not only for themselves, but for many others too.
Famous wealthy Chinese like Wang Jianlin and Jack Ma are still up and running, but a new wave of billionaires is moving up in the ranks of the annual Hurun China rich list, says its founder, Rupert Hoogewerf to Reuters. “Today it is about using the capital markets for financial investment,” he says, like Baoneng’s Yao Zhenhua.
“Highly collaborative and versatile.” That is how Hurun rich list founder Rupert Hoogewerf describes the billionaires coming from Zhejiang province, China´s region that produces most billionaires than any other in China and the world. And it is not over yet, says Hoogewerf to CNN Money
One of China´s most prominent philantrophists, Chen Guangbiao, contributed much to the development of charity in China, but, says Rupert Hoogewerf or Hurun and publisher of a respected charity index, after investigations by Caixin he caused equally much embarrassment in the industry, he told the LA Times.
Taobao, Alibaba´s ecommerce platform, has become the country´s most valuable brand, beating China Mobile and Baidu, says Hurun´s lastest report. Hurun´s chairman Rupert Hoogewerf tells the South China Morning Post, he expects the value of the brand to rise even more.