SHANGHAI: China has 150,000 super-rich with personal wealth of $5 million or more and their ranks are rising fast, pushing up prices for golf, yachting, villas and other luxuries, researcher Rupert Hoogewerf said yesterday."The number of wealthy individuals in China is growing very fast, based on the economic boom," Hoogewerf, who compiles an annual China "rich list", said. His China Luxury Index, which tracks 32 items including the Rolls-Royce Phantom EWB and the Louis Vuitton Speedy Bag, shows prices of luxury products in China jumped 8.7 per cent in the year to this February, compared with a 3.5pc rise in...
