BMW is Chinese millionaires' favorite luxury brand, according to a survey conducted by a company owned by Rubert Hoogewerf.
Hoogewerf, known as "Hurun" in China for his list of China's Fortune 100, surveyed the lifestyle of 604 Chinese entrepreneurs each with personal assets over 10 million yuan (about US$1.28 million).
BMW, Louis Vuitton, Mercedes-Benz, Rolex and Giorgio Armani were the top five luxury brands on the list, followed by Ferrari, Rolls-Royce, Bentley, Cartier and Vacheron Constatin.
Luxury sedans, watches and fashion items are status symbols that allow China's new rich to show off their success, said the report on www.hurun.net .
Traveling, swimming and golf were voted the most popular leisure activities. Family activities only came seventh, despite the fact that 90 percent of the millionaires surveyed claimed their families were more important than their careers.
Homemade spirits and cigarette brands won applause with Wuliangye and Zhonghua being voted Best Liquor and Best Cigarette.
The millionaires voted Air China Best Domestic Airline and Tsinghua University was Best Executive MBA program provider. China Merchants Bank was selected as the best provider of onshore personal banking and credit card services.
(Xinhua News Agency January 14, 2007)