The report says that there are 8,800 billionaires in Beijing and 7,000 in Shanghai. These are billionaires in Chinese dollars. A Chinese Yuan equals about $150 million U.S. dollars.
The typical rich family in China has a 43-year-old dad, 42-year-old mom and one 14-year-old child. The rich in Beijing need to spend at least about $12.7 million in U.S. dollars on property, cars and other luxury goods to be regarded as an aristocrat. The majority of their spending is on real estate, furnishings and fabrics, according to the report.
Oh, man, I can see it now -- Gossip Girl: Beijing Edition.