The spending of China's rich (3)

Leisure activities

According to the Ipsos and Robb report, leisure activities such as travel and participation in charitable activities are emerging as part of new lifestyles. Interviewees travel on average four times a year and 90 percent have had at least one trip overseas in the past year.

On average, those interviewed made four leisure trips in the past year. As many as 91 percent traveled outside China for leisure. Many enjoy participating in various leisure activities, including golfing and horseriding.

According to the report, more than half of those quizzed intend to purchase luxury products in the coming year. Sports utility vehicles or station wagons are the most preferred type of car being considered for purchase.

Nearly 70 percent of respondents had an optimistic view toward the national property policy and indicated their property purchase intentions will not be influenced by it. About half of them considering buying overseas property in the upcoming year, mainly for the sake of their children's education.

"We are seeing an increase in spending by millionaires on their children's education, with a clear preference toward sending their children abroad to study. This is accompanied by the rise of emigration out of China and investment in overseas real estate," said the Hurun Report.