Chinese consumers’ purchasing power has soared in recent years, with an increasing amount of consumers joining the world’s ultra-high net worth individuals (UHNWI) club—a group of people with $30 million or more in liquid financial assets. With soaring incomes, these ultra-rich Chinese people have the mobility¹ and freedom to choose their place of residence.

近年来，中国消费者的购买力骤然攀升，众多消费者已成功跻身世界超级富豪（world’s ultra-high net worth individuals (UHNWI) club），流动金融资产达到3000万美元以上。收入剧增让他们拥有了选择居住地的自主权，流动性也不再受其他因素干扰。

In a recent report released by Hurun Research Institute, Beijing is ranked No. 1 as the preferred place of residence for China’s wealthiest citizens. This report, known in China as the Hurun Rich List, is an annual ranking of the country’s UHNWIs, which includes a list of the high-net-worth individuals’ names, their residence in China, their field of industries, as well as Chinese-colored trivia such as their Chinese star signs and last names.

胡润研究院（Hurun Research Institute）近日发布报告，表示北京是中国富豪的首选居住城市。这份报告在中国叫“胡润富豪榜（Hurun Rich List）”，每年评选中国的富豪，记录他们的名字、地址、从业领域、和诸如星座、姓氏这样具有中国特色的东西。

With a total of 300 people, Beijing has kept the crown from last year. Although Beijing has 22 fewer people on the list than last year, the UHNWIs in Beijing still account for 14 percent of the 2,130 individuals who made the cutoff for the list.

北京从去年开始成为了富豪的首选之地，共有300位富豪住在北京。今年，居住在北京的富豪比去年少了22人，但依然占了总人数2130人的14%。

Shenzhen, China’s rising star in luxury consumption and wealth, is the runner-up, and has gained 28 more UHNWIs than the previous year, for a total of 223. This metropolitan² city adjacent to Hong Kong, nicknamed China’s “Silicon³ Valley of the South,” is the home of the Chinese internet conglomerate⁴ Tencent and other many world-famous Chinese companies, including telecommunication⁵ company Huawei and drone maker⁶ DJI.

深圳的奢侈品消费和财富不断攀升，在胡润富豪榜中排名第二，今年又新增28位富豪，总人数达223人。深圳是国际大都市，比邻香港，是中国的“南方硅谷”。也是中国的互联网巨头腾讯、通讯公司华为、无人机制造商大疆创新科技有限公司等众多世界知名中国公司的基地。

Ranked third on the list is Shanghai, China’s equivalent to New York City, where 11 more individuals joined the list, adding to a total of 173 ultra-high-net-worth individuals. Hangzhou, the economic center of China’s South Central area, followed closely after Shanghai, with 153 individuals worth at least $300 million calling the city home, a 24 percent increase from last year. Hangzhou is also the headquarters of Chinese e-commerce giant Alibaba. The cities that follow are Guangzhou, Suzhou, Hong Kong, Foshan, Ningbo, Chengdu, Nanjing, and so on.

上海名列第三，相当于美国纽约，今年新增11位富豪，去年共有173位富豪居住在此。杭州是中国中南部的经济中心，排名仅次上海，共有153位富豪入住，总资产至少达3亿美元，同比上涨24%。杭州还是中国电商巨头阿里巴巴总部所在地。排在杭州后面的有：广州，苏州，香港，佛山，宁波，成都，南京等地。

From a socioeconomic standpoint, the distribution of where these ultra-rich Chinese live can be interpreted as a good indicator⁷ of the quality of life in these cities, under the assumption that these ultra-high-net-worth individuals have the economic ability and freedom to migrate between cities. It is also a good indication of the economic well-being⁸ of the cities themselves—suggesting where the lucrative⁹ industries that enabled these individuals to achieve the economic success are.

从社会经济的角度来看，假设富豪有经济能力和自主权选择居住城市，他们的分布就能够体现出城市的生活质量。同样，城市的发财机遇也彰显无遗，毕竟富豪只有在利润巨大的领域中才能获得如此多财富。

The list is also a good guideline for luxury brands and high-end department stores to know where their brick-and-mortar stores should be in China, that is, where the money is. The top three cities already have an established amount of luxury boutiques and shopping malls—Shanghai has Omega’s largest flagship store in the world, and Beijing's SKP Mall has become the sought-after destination for consumers interested in luxury stores.

胡润富豪榜为奢侈品牌和高端产品指明了实体店在中国落户的地址，说白了，这也是他们赚钱的地方。榜单前三的城市已经拥有了相当数量的奢侈品购物店和购物商场——欧米茄（Omega）全球最大旗舰店落户上海，北京的新光天地商城已经成为奢侈品爱好者无论如何也要前往的地点了。

However, second- and third-tier cities that are less well known like Suzhou, Foshan and Ningbo could be the next stops for luxury brands who wish to expand their physical sphere in China, because for now, after all, luxury in China is still reserved for the wealthy individuals who can afford it.

名气略小的二三线城市，比如苏州、佛山和宁波也可能成为奢侈品牌在中国扩大版图的下一个目标，只是目前在中国，奢侈品毕竟还只是富豪的选择。