“Being rich and living the life of an aristocrat are not the same thing,” said Rupert Hoogewerf, author of 2008 Hurun Report of New Aristocracy, who is known better by his Chinese name Hu Run. He said the report was complied after analyzing the lifestyles of more than 100 super rich people in China and not all spend lavishly.

An aristocrat in China generally spends around 4.57 million yuan ($672,000) a year. However, to live as an aristocrat, the super rich must have spent at least 83 million yuan. The report describes a typical aristocrat. Read more…

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