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China's rich prefer to give Louis Vuitton


09:27, January 16, 2013


BEIJING, Jan. 15 (Xinhua) -- Louis Vuitton, Apple and Hermes are the top three brands wealthy Chinese men prefer to give as gifts, according to survey results released Tuesday.

Moutai, China's top liquor brand, fell from the list of the top 10 gifts luxury consumers most like to give, according to a survey conducted by the Hurun Research Institute.

Moutai's exclusion from the list came after a chemical-taint scandal hit the country's liquor industry and a ban on luxury banquets and the use of liquor at official receptions was initiated by the country's top leadership last year.

Chanel, Louis Vuitton and Cartier were the top three brands rich Chinese women prefer to give as gifts.

The Hurun Research Institute surveyed 551 wealthy people with an average net worth of 59 million yuan (9.5 million U.S. dollars) from 31 Chinese cities.

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