What’s next for Chinese millionaires to spend their money on after they have got expensive homes and luxurious cars? Now, they are spending money on helicopters, small aircrafts, and yachts. A local company Air Yueqing is selling two-seater aircrafts and helicopters to attract customers who always look for new ways to spend its millions. A plane sets them back between 800,000 and 1.2 million Yuan (US $100,000 and US $170,000) and the two most popular models - a light helicopter and a bi-glider - are produced in China, Xian, in Shaanxi Province. But, Jack Xu, founder and CEO of Yueqing Air, is not content to sell planes and helicopters to his compatriots. He created a club in 2005 to bring together the aviation enthusiasts. With an annual fee of about $7,500, the 20,000 club members of Xu benefit from the maintenance of their aircraft, rallies etc. Another fad catching the attention of China’s super-rich is yachting.

Luxury sailing yachts and motorboats are becoming the ultimate accessory of the super-rich in China. New marinas are being developed, and the government is promoting sailing ahead of next year’s Olympics. Out of the just 400 private boats registered nationwide, almost all of them are motorboats. But, Adrien Magnan of Marine Dragon Consulting in Shanghai cites that the amount spent on luxury boats has been escalating upwards by tens of millions of dollars in the past few years.

Pleasure sailing, virtually unheard of in China until a few years ago, is becoming increasing popular. Chinese millionaires are willing to spend a fortune on yachts and aircrafts. Looks like the wealthy Chinese customers are seeking a western lifestyle.

via Lebdogluxe / ChinaConfidential