Life of knowledge wealthy class
(chinanews.cn)
Updated: 2006-10-16 15:13
There has appeared in Chinese society a new group of people that are termed
as the knowledge wealthy class. Most of these people are aged between 25 and 39.
They have received a good education and work in IT sector, finance, or the arts.
They drive Audi instead of BMW, and put their money for investment instead of
buying gold. Most of them like adventures and have little interest in golf.
Such is the way of life for the knowledge wealthy in China. Recently, the
Sinomonitor International, a Beijing-based consulting firm, carried out a survey
about them. The survey covered more than 10,000 young rich people in 12 cities
across China. Compared with 2005, the proportion of the knowledge wealthy has
increased by 2 percentage points to account for 45% of the rich people in China.
In other words, 45% of the young rich people in China work in industrial sectors
that are characterized by new knowledge, new economy and new technologies or in
new service sector. A large number of the knowledge wealthy are concentrated in
Beijing.
Deputy manager of the Sinomonitor International Liu Rong said the young rich
have the following characteristics: they become rich at a very young age; most
of them have a good financial background, either because they make good money or
because they are born in a wealthy family; and many of them have received a good
education and have a strong consumption power.
These people have become the main driving force of consumption. Every year,
their family expenditure exceed 100,000 yuan, mostly in buying durable goods or
fashion gadgets, dining out, traveling, or maintaining cars. They are willing to
search for new information, as 80% of them read newspaper or surf the Internet
everyday. In addition, these people advocate new lifestyle. 70% of them think
that if they have enough money, they should enjoy life. So most of them travel
out of town, go in for physical exercise or visit beauty parlours
regularly. (For more biz stories, please visit Industry Updates)
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