Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

The "Chinese dream" in action

Never before in the history of the PRC, the opportunities for becoming a millionaire have been so favorable.

The "Chinese dream" in action

With a stable political stance and opportunities for private sector development, the average standard of living and the prospects for ordinary Chinese have increased significantly. All this allowed the enterprising citizens of the PRC to achieve success in various areas of business and earn millions. However, unlike American and European millionaires, many wealthy Chinese are reluctant to flaunt their wealth. On the contrary, in China it is customary to sympathize with those who are included in the rating of Forbes magazine. Chinese millionaires try to behave as inconspicuously as possible ... But not all. 

Women and man
The number of dollar billionaires among the Chinese is growing every year. In 2013, their number increased by 23%. Today, according to official data, 245 people in the PRC have a fortune of at least $ 1 billion.The total volume of their capital also increased by a significant amount - $ 162,71 billion, reaching a fairly high figure - $ 718,46 billion. 

As for dollar millionaires, then, according to various studies, there are about 1 million people in the country. The average age of Chinese millionaires is about 40 years. Although the list of rich Chinese can be found and those who are not yet 30, and those who are already for 80. 

At the same time, a little less than half of the list of "Top-50 richest people of the PRC" did not receive even higher education. Mostly they are representatives of the older generation. But some of the list managed to learn abroad. About a dozen people with the titles of millionaires are members of the upper layers of the Chinese Communist Party (CCP), which once again confirms the course toward the modernization of the CCP and the pragmatism of its members.
Fun fact: 11% of Chinese billionaires are women. Chinese women are considered the most ambitious women in the world. And it is not in vain that more than half of the "20 richest women in the world" are citizens of the PRC. Topping the list are three Chinese women: 53-year-old Zhang Yin with a fortune of $ 5,6 billion, 49-year-old Wu Yajun with a fortune of $ 4,1 billion and 69-year-old Chen Lihua with assets of $ 4 billion. 

According to Rupert Hoogwerf, the creator of the "women's" rating, such success of the PRC women was facilitated by the "one family - one child" policy, which relieved women from household responsibilities, as well as the proclamation of equal opportunities for women by the CCP leadership. 

However, the richest Chinese man is still a man. According to Forbes magazine, in 2013, this is Li Jiacheng, a resident of Hong Kong, owner of the Hutchison Whampoa concern, whose fortune is estimated at $ 31 billion. Surprisingly, it is difficult to say what this corporation specializes in. She is involved in a variety of businesses, from retail to telecommunications. This is precisely the talent of a businessman - his extraordinary approach to business combines innovation, foresight and risk. 

Li Jiacheng's success story is the epitome of the “Chinese dream.” Born before the revolution, in the twenties of the XX century, he was in 14 years, immediately after the death of his father, was forced to quit school and go to work. First, Lee sold watch straps on the streets of the city, then he got a job as a puncher at the factory, continuing to attend evening school. 

Starting with the sale of artificial flowers of his own production, Li Jiacheng got into the trend and after a while was able to open his own small production. The rest was a consequence of his entrepreneurial talent and desire to achieve universal recognition: "I will make it so that they talk about my success." 

Now this person is 85 years old, he is a fan of the practice of feng shui and, in his own words, dreams of a quiet and peaceful life, when nobody knows you and you can calmly do what you love - gardening.


Trend: Westward
What are Chinese billionaires spending their money on? According to published data from a joint study by China Merchants Bank and Bain & Co., about 10% of wealthy people in China seek to provide their children with the opportunity to immigrate abroad. Even the leaders of the CCP, headed by President Xi Jinping, send their children to study abroad. It is known that the daughter of the President of the People's Republic of China studies at Harvard, and Xi Jinping's own sister resides in Canada. What can we say about ordinary Chinese millionaires? 

Experts say that these data are too low, and the real numbers of millionaires and their family members who want to emigrate from China are much higher. Thus, according to the estimates of China Merchants Bank, 27% of Chinese millionaires with a fortune above $ 15 million have already immigrated to the West, and another 47% are in the process of emigration from the PRC. 

Many Chinese businessmen confirm that the main direction of their investments is investment in overseas property in the hope of ensuring the safety of earned capital and reducing financial risks. 

Today, the most popular destinations for immigration among Chinese millionaires are the United States, Canada, Malaysia and Singapore.

The reasons for migration, according to the American edition of the Wall Street Journal, are also due to the quality of healthcare, education and the safety of capital abroad. The CCP's numerous bureaucratic rules and procedures are easily violated, and the independence of the courts is questioned, so that millionaires are constantly in danger while in China. 

According to the publication, the wave of immigration to the West suggests that the tacit agreement concluded between the CCP and ordinary citizens, when the party does not interfere with making money, and the people in return do not put forward political demands, is failing. 

Articles on this topic also appeared in official party publications. After reading such publications, it becomes clear that those who are going to immigrate to the West can expect careful checks at home, and hence the threat of losing capital. But this does not stop the flow of those who want to go abroad. In just one year alone, for example, 1823 Chinese immigrated to Canada. The average age of immigrants is 40 – 45 years. And according to the most minimal calculations, this means that $ 700 million was exported from the PRC. 

“China is losing talent that it desperately needs,” said Wang Huyao, Ph.D., general director of the Center for China and Globalization. "China is trying to develop its economy, change its self-image from" Made in China "to" Made in China, "and it needs people who can build a country."


Symbols of luxury
It is no secret that after a long period of comparative poverty, when the state was almost completely agrarian, that part of the modern population, which was fortunate enough to accumulate millions, dreams of a beautiful life. The Ferrari car and Patek Philippe watches are the brightest brands that symbolize wealth in China. 

According to the research of the Chinese publications, about a third of the expenses of the rich Chinese account for accessories made of genuine leather: bags, shoes, wallets, gloves, belts. This is even more than the average annual spending on a car, which makes up only 20% of the funds. At the same time, about 80% of rich people own two or more cars. 

About 15% of the average annual expenses are spent on wristwatches, of which, on average, millionaires have more than three. Collecting expensive watches has also come into fashion. The most popular gifts among millionaires in China are watches. 

Curiously, about 70% of Chinese millionaires, like their Western counterparts, invest in fine wine, storing expensive collectible bottles of wine in the home cellars of their luxury villas. In addition, the feature of the Chinese rich is a massive love for tasting exquisite teas, and this pleasure is not cheap. 

About 90% of China's wealthy people go abroad for tourism purposes. Tourism spending represents a significant portion of the average annual spending budget. During holidays, it became fashionable to engage in various active leisure activities, especially horse riding and golf. At the same time, significant amounts are also spent on shopping. The most favorite shopping destination for millionaires from China is Hong Kong, where it is customary to travel several times a year. Significant sums are spent on the education of children, who are often sent to study abroad. This is usually accompanied by investments in overseas property. 

An expensive pleasure for the Chinese, oddly enough, is the maintenance of pets, on which there are huge taxes in this country. Therefore, only rich people can afford such pleasure. Over a third of wealthy people in the PRC keep pets, and now many people prefer to buy chinchillas. 

And yet in China it's better not to advertise our wealth, because it is known that as soon as the next millionaire turns out to be on the list of China's richest people, his company's shares do not start to grow, as one might suppose, but, on the contrary, fall. Therefore, it is accepted to sympathize with such "unhappy" in China. After all, this "hit" can cost the businessman serious consequences - beginning with numerous inspections of his activities and ending with the exception, for example, from the program of state subsidies, which in general can cost him business.

Paradise that you can buy
There is only one place in China where it is customary to display wealth. We are talking about a tropical island in the south of the PRC - Hainan. This is a real paradise for millionaires: almost everything is allowed here. Almost all Chinese millionaires have housing on this island. Private jets with influential people - leaders of large corporations, owners of business empires - do not get tired of landing at Hainan airport. It is right to be rich here, because wealth is officially declared on the island as a stimulus for economic progress. Therefore, it is customary here to demonstrate expensive real estate, luxury cars and yachts - in general, show off without a twinge of conscience. 

Hainan hosts the famous Luxury Salon under the direction of Dolphin Linier, a Frenchwoman from Shanghai. This is a parade of luxury jewels, accessories, cars, planes and yachts. The event is by invitation only, and a total of several hundred million dollars are spent here in a few days. 

Our business partners, friends and customers are invited to invite to the island with their families. In such a luxurious atmosphere and a warm atmosphere and contracts are easier to sign. 

Yachts equipped with karaoke rooms and mahjong games, luxury villas with countless guest rooms - this approach to life even got a definite term in China: “Genchi”. And if Hainan is an empire of “genchi”, then Sanya is its center. 

The population of this city is less than a million people, but its territory is huge - the settlement stretches along the coast for 238 km. Luxurious hotels, villas and apartments will shelter everyone who wants to spend money. It is a well-known fact: about 80% of residential premises in this city are not essential for their owners. The hosts only come for a couple of weeks a year. In general, this island is a capitalist anomaly against the backdrop of communist China with its rules and dislike for show. 

Figurehead
What else do the wealthy Chinese spend money on? It turns out that many millionaires hire twins to solve various problems. In general, the profession of “twins” appeared as soon as the machinations appeared, that is, in ancient times. Surprisingly, in China, it is popular to this day. 

It is no secret that in China very severe penalties for corruption and other offenses. Therefore, the rich buy their own opportunity to evade justice, forcing them to serve the punishment of their twins, whose families need money. Unfortunately, such services often cost millionaires just a few thousand dollars. This practice has become so famous that it already has its name - ding zui, which means "fake criminal". 

The story that happened in May 2009 of the year received a wide resonance: then 20 was the son of wealthy parents, someone Hubin, who was driving a car that was driving at a furious speed in the city of Hangzhou, shot down the street on a pedestrian crossing 25-year-old engineer. The victim flew off at 20 m from the scene. At the same time, Hubin himself and his drunken friends smoked and had fun while waiting for the police. These photos quickly circled the Internet. 

As a result, the perpetrator was sentenced to three years' imprisonment - this is a very light punishment by the standards of China, given the confirmed facts of driving drunk and exceeding the permissible speed, which caused the tragedy. 

But it was not Hubin himself who appeared before the court. Photos from the scene and from the courthouse also circled the entire Internet. They show that there was a completely different person in the courtroom. The same "double" served the entire term by a court sentence. As it turned out later, the hired man received a reward for the time spent in prison. What amount he was promised is unknown. 

In a similar story, when a driver, who had no rights, knocked a motorcyclist to death, the amount paid to the “double” for the prison term was made public — it was $ 8 thousand. In some similar cases, the “doubles” are paid for each day they spend in prison. So, one of the dummy criminals confessed that his family was paid $ 31 per day for the entire term.

Bright future
The official strategy of the Chinese Communist Party is to double the incomes of citizens by 2020, and by 2049 - to complete the construction of a moderately prosperous society. It is expected that by this time China will turn into a rich, powerful, civilized and harmoniously modernized socialist state. This has been repeatedly stated by the highest ranks of the Chinese Communist Party. 

Currently, only less than 5% of the population are middle-class in China and earn over $ 20 a year. At the same time, 50% of the PRC population earn less than $ 1 per year (that is, less than $ 3 per day for a family). Another 40% of the population earn $ 3-6 per day for a family. All this suggests that now over 80% of China's population lives in poverty and misery. 

The official Chinese press cited data that the proportion of wealthy families in China is 0,2% of the total number of citizens of the country, which is much less than in other states. In the USA the same proportion is about 4,1%, in Switzerland - 8,4%. Today, the largest number of wealthy people in the world is in China. But the largest number of the poor is also here. Therefore, it is in the desire to equalize the incomes of the population and harmonize society that the managers who are currently in power in China see their goal as their goal. Time will tell whether they will be able to cope with this task. 

September 22: current information on coronavirus in the Far East
Digest of regional events and latest statistics