Watches to watch

Scene at Sotheby's watch auction in Hong Kong. Photo: SCMP

Forget French burgundy, suddenly watches are the luxury auction items to watch.

Friday, 31 May, 2013, 11:44pm

Rich dodge US$156b tax on hidden assets, says Oxfam

The Caymans and other British crown dependencies have been told to get their houses in order over their tax status. Photo: AP

The international aid agency Oxfam says the unpaid tax is twice the sum required for every person in the world to live above the extreme poverty threshold of US$1.25 a day.

11 Feb 2014 - 7:32am

In the Hamptons, catering to the rich (and their dogs) is good business

Renting a Ferrari 458 Italia for Memorial Day weekend in the Hamptons could set you back US$2,500 (HK$19.4 million). Rich Americans are opening their wallets again, encouraged by a surging stock market and rising home prices. Photo: Supplied

Judging by early demand for everything from doggie daycare to Ferrari rentals and fine art, rich Americans are going to make this a strong summer in one of their favourite playgrounds - the beach towns on the eastern end of Long Island collectively known as the Hamptons.

21 May 2013 - 1:51pm

Luxury residential opportunists count rewards

The skyline of lower Manhattan is seen from the Staten Island Ferry. Photo: AFP

Global luxury residential markets are always interesting. It really does indicate where the wealthy are hanging out, migrating to and moving away from. The never-ending search for safe haven investments keeps pushing prices up, in spite of stock market blips and financial crisis fallout. It seems you just need nerves of steel and the courage to jump in at the bottom.

15 Apr 2013 - 5:55pm

Wealthy Chinese love French luxury goods

Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, unveils their 'Rich List' at a press conference in Beijing. Photo: AFP

The recently released annual Hurun report usually contains fascinating insights into the antics of the super wealthy in China and this year is no exception.

11 Mar 2013 - 7:32pm 1 comment

China has second-most billionaires on Forbes' global rich list

Zong Qinghou, Hangzhou Wahaha Group chief and China's richest man, now ranks 67th on the 2013 Forbes Global Rich List. Photo: SCMP

Twenty-six Chinese nationals joined Forbes magazine’s recently published Global Rich List this year, bringing the country's total number of billionaires on the list to 122.

6 Mar 2013 - 6:53pm 1 comment

Cautious welcome for anti-graft wealth disclosure plan

Zhuhai's Hengqin New Area is one of the selected locations. Photo: SCMP

A plan to require senior officials in Guangzhou's Nansha district to disclose details of their overseas trips and the occupations of immediate family members has been cautiously welcomed by analysts and some internet users.

22 Feb 2013 - 4:44am

The puzzle of China's growing wealth and falling happiness

Despite a pace of growth unprecedented in history, urban Chinese rate themselves no happier today than they did 20 years ago.

Economics is well named the dismal science. Only a bunch of real misery-guts could quarrel quite so intensely about happiness. According to one cohort, happiness - or life satisfaction, or subjective well-being as economists prefer to call it - goes hand in hand with material wealth.

21 Feb 2013 - 6:07am 2 comments

Meet the Wuhan millionaire who chooses rags over riches

Yu Youzhen, pictured on the Wuhan Evening News newspaper. Photo: SCMP Pictures

A Wuhan woman who owns property investments worth tens of millions of yuan chooses to spend her days as a street cleaner, in a bid to teach her children the virtues of hard work.

3 Jan 2013 - 2:33pm

World's richest got a lot richer in 2012

Mexican billionaire Carlos Slim. Photo: Bloomberg

The richest people on the planet got even richer in 2012, adding US$241 billion to their collective net worth.

According to the Bloomberg Billionaires Index, a daily ranking of the world's 100 wealthiest individuals, the aggregate net worth of the world's top moguls stood at US$1.9 trillion at the market close on December 31.

3 Jan 2013 - 10:28am

Growth in wealthy inland households to outpace downturn-hit coastal cities

Mainland investors have become less keen on stocks this year.

The number of wealthy households in the mainland's inland region are set to grow faster than in the rich cities and coastal provinces where the economic slowdown has hit harder, a study has shown.

8 May 2015 - 9:46am

Students ask Lanzhou mayor to reveal income

Two mainland university students have written to the authorities in Lanzhou, the capital of Gansu province, asking for details of the city mayor's income to be made public.

7 Dec 2012 - 4:25am

Time to come clean on family wealth

Premier Wen Jiabao has asserted his innocence over claims of hidden riches, but the speculation will continue until he make further clarifications. Photo: Xinhua

In April last year, veteran Hong Kong columnist Ng Hong-mun revealed that he had held a 90-minute meeting with Premier Wen Jiabao in Beijing where they talked about political reforms and the upcoming chief executive election in Hong Kong. Ng, a former local deputy to the National People's Congress, said Wen invited him because of his "inspiring in-depth analysis" on issues.

3 Dec 2012 - 6:46am 3 comments

Happiness survey shows achieving it costs more in Hong Kong

Photo: Bloomberg

Money can't buy happiness, so the saying goes. Yet people around the world remain obsessed with wealth and making money, so much so that the dollar sign is regarded by many as the equivalent of happiness. Hongkongers are no exception. Not only do they think they can buy their way to happiness, many believe that the more money they have, the happier they will be.

27 Nov 2012 - 4:34am

The Week Explained: The cost of happiness

Hongkongers' US$197,000 happiness. Photo: Corbis

How much money do you need to make you happy? It's a reasonable question that is damned hard to answer yet the people at Skandia International have conducted one of those surveys that purports to provide a response.

26 Nov 2012 - 2:17am