What Does the Surge of Chinese Billionaires Mean for Luxury

The purchasing power of China’s top-tier ultra-rich consumers has continued to soar in 2016. According to a joint report released by Swiss investment bank UBS and auditing firm PricewaterhouseCoopers on October 26, the number of Chinese billionaires has increased 25 percent to 637. By comparison, there are 537 and 342 billionaires in the United States and Europe, respectively.

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