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Staying Relevant to the Chinese Rich List

Staying Relevant to the Chinese Rich List. ELIZABETH HARRINGTON Hurun Report North America Publisher-At-Large 2013. THIS IS WHERE WE ARE TODAY. ‘Known’ Wealth. Size of Market. Globally 1453 US$ Billionaires China 251 US$ Billionaires. US$bn Globally 4500 pax 63yrs US$bn China

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Staying Relevant to the Chinese Rich List

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  1. Staying Relevant to the Chinese Rich List ELIZABETH HARRINGTON Hurun Report North America Publisher-At-Large 2013

  2. THIS IS WHERE WE ARE TODAY ‘Known’ Wealth Size of Market Globally 1453 US$ Billionaires China 251 US$ Billionaires US$bn Globally 4500 pax 63yrs US$bn China 750 pax 53yrs US$ Millionaire 2.8m pax 39yrs ‘Hidden’ Wealth Globally 3000 US$ Billionaires China 500 US$ Billionaires Source: Hurun Research 2013 China World Number One for Self-Made Millionaires !

  3. GENERAL DEMOGRAPHICS OF A RICH LISTER 53 years of age; wife, 50; child, 24 IPO 2007 First Break 1993 Go Global 2016 Set up main business 1997 Hand over biz to next generation 2030 Born 1960 Starting to cash out 2010 Source: Hurun Research 2013

  4. 1 Beijing 2 Shanghai Shenzhen Hangzhou Guangzhou Suzhou HK 7 Chengdu Nanjing Ningbo WHERE THE RICHEST 1000 LIVE East China 43% North China 24% South China 17% Others 16% 1st tier 41% 2nd tier 33% 3rd / 4th tier 26% Source: Hurun Research 2012 123 indiv. 80 74 52 39 29 22 22 21 19

  5. TOP THREE CHINESE Zong Qinghou 67 years WAHAHA Children’s drinks US$12.6 billion Robin Li Yanhong 44 years BAIDU Internet search US$8 billion Wang Jianlin 58 years WANDA Property US$10.3 billion Source: Hurun Research 2012

  6. TOP THREE SELF-MADE WOMEN IN WORLD 11 of 20 Richest Self-Made Women in World are Chinese NO 3 Zhang Yin 55 years NINE DRAGONS Wealth: US$4.6 billion NO 1 Chen Lihua 71 years FU WAH Wealth: US$6.1 billion NO 2 Wu Yajun 48 years LONGFOR Wealth: US$4.8 billion

  7. WHERE THE GLOBAL BILLIONAIRES LIVE Chinese language critical influencer China is second after US for billionaires 5 of Top 10 cities in world today for billionaires are in Greater China Source: Hurun Research 2013

  8. TOP SPORTS 2.7 times exercise a week What is your favourite sport? FOR MEN Swimming Golf Mountain Walking FOR WOMEN 1. Yoga 2. Swimming Golf Source: Hurun Research 2013

  9. 9 Days on the Road a Month 2 to 3 trips overseas a year TOP TRAVEL DESTINATIONS Source: Hurun Research 2013

  10. BEST BRAND FOR GIFTING BY MEN 2013 Source: Hurun Research 2013

  11. CHOICE OF GIFTS For the Chinese super-rich, red wine is now the gift of choice Source: Hurun Research 2013

  12. CHINESE ARE NOW THE BIGGEST LUXURY CONSUMER IN WORLD Chinese 24% Russians 16% Japanese 4% Source: Global Blue Research 2013 Chinese spending grew 57%, 59%, 81% over last three years Average tax free shop Euro 875 in 2012 Source: Global Blue Research 2013

  13. TOP EDUCATION DESTINATIONS 80% want to send their child to study overseas THE BIG TWO US 43% UK 34% NEXT COMES Canada 17% THE FASTEST GROWER Switzerland 8% AND THE REST Australia 7% Germany 6% France 5% Singapore 4% Drives luxury travel, overseas property purchases and emigration 4 out of 5 millionaires consider educating their kids overseas Source: Hurun Research 2013

  14. 70% are collectors Collectors only for 6 years COLLECTING What do you like collecting? Watches 20% Classical Art 19% Drinks 17% Jade 12% Porcelain 10% Contemporary Art 8% Trophy Properties 6% Cars 4% Source: Hurun Research 2013

  15. TOP PRIVATE BANKS or WHERE TO FIND THEM? H What is your preferred private bank? • DOMESTIC • China Merchants Bank • ICBC • Bank of China • INTERNATIONAL • UBS Source: Hurun Research 2013

  16. TOP EMIGRATION DESTINATIONS US Canada Australia Singapore Source: Hurun Research 2012 60% emigrating !

  17. Overseas Investment 1

  18. Overseas Investment 2

  19. Overseas Investment 3

  20. Residential Real Estate Buying Behavior in the US    Market Size    - Chinese are the second largest international buying group in the US    - 11% of international buyers  - $8 Billion in sales in 2012    - New York is the number 1 destination Source: E. Harrington Global 2013

  21. Reasons for Buying Residential Real Estate in the US • - Children studying in US high schools or colleges • Investment •       - Diversify assets •       - Government limits on real estate purchases in China                           •       - Volatile Chinese stock market                                                                  •       - Get funds out of China       •       - Low real estate prices in the US •       - Weak US Dollar and low interest rates Source: E. Harrington Global 2013

  22. What Do Chinese Buy in the US ?  Segments - Students:  Apartments or single family homes near good schools - Business Executives working in the US : Investment properties near work and good schools        - High Net Worth Individuals : Second homes in prestigious areas     - Luxury apartments: Central Park, Trump Tower , Time Warner Center    - Single family homes : Sands Point, Long Island - Great Gatsby country Source: E. Harrington Global 2013

  23. Chinese Buyers Live In Chinese Neighborhoods or Any Neighborhood? Segments  - Investors "cluster" in areas recommended by peers   - English speakers buy in prestigious mainstream  neighborhoods with good schools to get a true American experience - Non-English speakers buy in Chinese neighborhoods for support from family and with language Source: E. Harrington Global 2013

  24. Factors In Selecting Properties     - Good  schools nearby     - Investment value                                                                             - Prestigious area, including coastal areas     - Feng shui     - EB5 visa opportunities Source: E. Harrington Global 2013

  25. How do Chinese Investors Finance Purchases?  - 70% pay cash                                                                         - Use of mortgages with 40% down is increasing       - Low US interest rates       - Leverage allows additional investments       - Interest rates and return on investments is higher in China Source: E. Harrington Global 2013

  26. Sources of Information About Real Estate Recommendation of trusted advisor       - Business or social peer        - Family       - Business service providers: bankers, lawyers, consultants                       Sources of trusted relationships in New York      - C100      - Asia Society      - China Center      - Invest Hong Kong      - Christies Asia Art Week      - Hurun Report --  China Rich List and Entrepreneurs Awards Source: E. Harrington Global 2013

  27. Chinese Buyers Want From a Real Estate Agent    - Trust      - Discretion     - Expert advice on all issues - schools, financing, legal matters, lifestyle     - Outstanding, efficient service       - Strong negotiating skills     - Concierge services : Rental for investment properties                                     Maintenance for second homes      Benefits -- Referrals to peers and family     One successful deal = Ten new deals Christies: Experience the Art of Living Source: E. Harrington Global 2013

  28. Hurun Report – Nobody Knows China's Rich Better  

  29. HURUN REPORT WINE DINNER Shanghai 19 July 2013 With charity auction, to raise USD 200,000

  30. SUPER CAR CARNIVAL Super Car Carnival July 2013, Shanghai 500 Self-driven Super cars, No.1 in world

  31. MOST RESPECTED ENTREPRENEUR OF THE YEAR Rich List Dinner 25 October 2013, Beijing Presenting Man of the Year to Zong Qinghou Presenting Man of the Year to Yu Minhong

  32. POLO Polo Gold Cup 26 Oct, Beijing

  33. HURUN REPORT WINNING TEAM

  34. Thank You

  35. Rare 150' Malibu Beach Lot Christies International Real Estate                Hyland & Hilton

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