For decades it was a crime punishable by imprisonment or death. Then it became a mere social taboo to be furtively practised away from disapproving eyes. But now, being wealthy is a cause for celebration, prompting thousands of Chinese millionaires to come out of the closet.More than 20 years after Deng Xiaoping pronounced the end of communism with the phrase “to be rich is glorious”, a generation of self-made tycoons is starting to have the time, the money and the confidence to flaunt their good fortune.
They were evident at the Best of the Best gala dinner in Shanghai, where 20 of the wealthiest entrepreneurs joined hundreds of luxury goods providers at an awards ceremony for those judged best able to satisfy the country’s most expensive tastes.Quaffing cognac and champagne in the sumptuous setting of the Pudong Shangri La ballroom, the big players of the world’s fastest growing economy handed out honours to salesmen from leading global brands.