{"id":122372,"date":"2011-07-12T07:26:58","date_gmt":"2011-07-12T14:26:58","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=122372"},"modified":"2011-07-12T07:26:58","modified_gmt":"2011-07-12T14:26:58","slug":"rich-in-china-get-richer-only-faster","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2011\/07\/rich-in-china-get-richer-only-faster\/","title":{"rendered":"Rich in China Get Richer Only Faster"},"content":{"rendered":"<p><strong><a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/jul\/11\/luxury-cars-china-economy\">The Guardian goes luxury car shopping with Zheng Huizhong<\/a>,<\/strong> son of a Henan farmer who has become a successful businessman:<\/p>\n<blockquote><p>&#8220;Turning heads with a luxury car is not as easy as it used to be.  They are common now. Many people can afford them,&#8221; he says. &#8220;So I focus  on comfort.&#8221;<\/p>\n<p>It is an increasingly familiar story as ranks of  wealthy Chinese move from bike to Bentley and moped to Merc in a  generation. This has not only transformed the streets of Beijing, it is  reshaping the business strategies of the world&#8217;s biggest carmakers.<\/p>\n<p>China&#8217;s  emergence as a car industry superconsumer is evident in Jinbao Street,  where Zheng takes his wife and son shopping. This leafy promenade  between the Forbidden City and the central business district opened in  2002 on the site of demolished <em>hutong <\/em>(alleyway)  neighbourhoods. It aims to be Ginza \u2013 Tokyo&#8217;s shopping and entertainment  district \u2013 plus Mayfair and Park Avenue all rolled into one, with  five-star hotels, plush restaurants and designer boutiques. But its most  striking feature is a clutch of car showrooms. One side of the street  is home to Ferrari, <a title=\"More from guardian.co.uk on Rolls-Royce\" href=\"http:\/\/www.guardian.co.uk\/business\/rollsroycegroup\">Rolls-Royce<\/a>, Maserati, Jaguar and BMW. On the other, Lamborghini, Aston Martin and Mercedes.<\/p>\n<p>Most  of these luxury brands have only moved in within the past few years,  but the chief outlets on this street \u2013 and others like it in Shanghai,  Tianjin and Guangzhou \u2013 have rapidly become the leading profit centres  for the world&#8217;s prestige carmakers.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Guardian goes luxury car shopping with Zheng Huizhong, son of a Henan farmer who has become a successful businessman: &#8220;Turning heads with a luxury car is not as easy as it used to be. They are common now. Many people can afford them,&#8221; he says. &#8220;So I focus on comfort.&#8221; It is an increasingly [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,5],"tags":[3797,5811,2229,695],"class_list":["post-122372","post","type-post","status-publish","format-standard","hentry","category-economy","category-society","tag-auto-industry","tag-beijing","tag-luxury","tag-wealth-gap","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rich in China Get Richer Only Faster<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2011\/07\/rich-in-china-get-richer-only-faster\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rich in China Get Richer Only Faster\" \/>\n<meta property=\"og:description\" content=\"The Guardian goes luxury car shopping with Zheng Huizhong, son of a Henan farmer who has become a successful businessman: &#8220;Turning heads with a luxury car is not as easy as it used to be. 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