British media analysis China's luxury consumption is the key factor

British "Sunday Times" February 7 article, the original title: China, very rich for a Chinese businesswoman, the booty is 36,000 pounds bought purebred Tibetan mastiff. For men, mistresses are a key ingredient in luxury spending.　　In a recent report, HSBC economists forecast the future of the world's most luxurious brands in China. A British-made mobile phone has become the emblem of Guangzhou's rich people, import tariffs on its price mentioned 70,000 pounds. The southern metropolis is also home to Louis Vuitton stores, where VIP members are eagerly queuing to buy more than 100,000 pounds of handbags.　　In Beijing, the most popular cultural exhibition of the last season was Cartier's treasure art show in the Forbidden City. But for the few super-rich who are flaunting the rich, nothing is forbidden. In a country that has endured decades of austerity, luxury goods are no longer just a success accessory, but a clear future.　　It is reported that lavish Chinese tourists have left Russians and Americans behind, becoming the number one buyer in Paris. The economic trend faces many worrisome problems, including trade wars, bank credit, asset bubbles and social injustice. But the fruits of China's long boom have never been enjoyed by the privileged class that emerges from reform. This is a recognition of prosperity, even HSBC analysts have come to the conclusion that in this year's global luxury growth, China's share is likely to exceed 1/3.　　People who are worth more than million pounds in China may have reached 825,000, with an average age of 43 years. A recent survey of young Chinese found that a typical urban teenager typically has 3 to 7 designer items. The survey defines China as "probably the only luxury market on the planet that is dominated by men." The survey also notes that "owning a mistress is a common phenomenon that drives luxury consumption." But for the hundreds of millions of who have been left behind by prosperity, hatred is also being awakened. "Even foreigners are stunned by the luxury consumption of the rich," wrote a blogger named Zhe, "but people despise them." "▲ (author Michel Cheridain, Wang Huicong translation) (Source: Global Times)