Total consumption of luxury goods in the Chinese market has reached $9.4 billion annually.
China now makes up an eye-popping 27.5 percent of the world's total luxury goods market. It has become the second largest market for luxury groups in the world, after Japan.
Currently China has 825,000 individuals worth more than 10 million yuan, almost $1.5 million in U.S. dollars. China Daily reports that there are 51,000 people with more than 100 million yuan or almost $15 million.
A Yuan billionaire in Beijing consumes $1 million worth of goods a year. One billion yuan equals $146 million.
By 2015 China will rank fourth in the world by number of wealthy households, with a total of 4.4 million. Right now about 80% of wealthy Chinese are aged 18 to 45, compared to 30% in that age group in the U.S.
China's digital music market will be worth $315 million in annual revenue by 2011. This year, sales will grow by 8.2% to $262 million. More than 90% of China's music fans download music from the internet.
China overtook the US as the world’s biggest property investment market last year.
China already consumes twice as much steel as the US, Europe and Japan combined.