Living in China you tend to experience all aspects of life including how the rich celebrate and spend….I have seen my share of both advertised and actual New Years banquets / dinners with price tags North of US$2000 per person…Precious abalone, sea cucumbers, puer tea…
Now things are getting even more exciting — even China Daily is reporting on big spenders – the China newly rich who are spending on items like
- a US$5200 Cartier wrist watch ;
- Debauve et Gallais chocolates (made in France, imported) are up to RMB3500 (~$710/box)
In general surveys point out to the average Chinese employee spending 1/6 of their annual income on the New Year festival.
