China's Playboy Socialists (Wealth Documentary) - Real Stories

the Formula One circuit in Shanghai was built to host the world's best drivers in the Chinese Grand Prix but the visits any other weekend of the year and you're less likely to find the world's fastest men in China's richest the most exclusive car club in the country has rented the track once again a sports car club now has over 1000 members according to the club president there are very strict conditions for membership even for the wealthiest of businessman sweetie they Robert Vadra the minimum requirement for membership is applause 911 listen GTR a two-door sports car that accelerates from 0 to 100 0.5 seconds this condition reveals a second less openly discussed requirement for membership large personal wealth in addition to the cars a weekend at the Formula One race track costs at least ten thousand euros the members gathered today comprise a second generation of privilege they are the children of new millionaires for whom expensive hobbies are no longer out of reach for these two young men the expense is not a problem Li Chiao and Zhang gichan have travelled from Beijing they are entrepreneurs and car enthusiasts their annual budget for the hobby is up to five hundred thousand euros has their own idea the Porsche 911 is very popular in Europe of course a Ferrari is very good and expensive I could just as easily afford one of those but I like my Porsche 911 because the engine sits in the back and the turbo goes properly he isn't exaggerating in fact on this point he is impressively convincing mr. Zhang paid around 200,000 euros for his Porsche he also owns a BMW and an Audi and these are just his race cars used only for this hobby entertainment for the almost exclusively male clientele is provided for all car club events luxury European car manufacturers are guaranteed to appear represented by their finest hostesses and the rich petrol heads are quickly acquiring a taste for it weekend is like a meeting of friends when your race is just a woman can meet friends here you can also do good business following the end of the racing the evenings parties announced over the PA unfortunately cameras are definitely not allowed mr. Lee returns to his hometown Beijing a couple of days later where he is staying in the center he also owns a villa in the suburbs Lee was educated at a precision University his degree in business management funded by his family he is wealthy though exactly how wealthy he is reluctant to reveal bleach out made his fortune through the distribution and sale of milk powder which he imported from Europe his business transformed into a goldmine in 2008 when a huge scandal erupted in China milk powder manufactured domestically was found to be contaminated with melamine causing illness in hundreds of thousands of infants the public's confidence in milk powder manufactured in China was thoroughly shaken and now those who can afford to buy imported milk the cows milk a lot has changed I started the business seven years ago there was not a lot of money tens of thousands of euros perhaps today I put away a good 25 million euros a year and I hope there is a great deal more to be made li Chao is a reflection of Chinese society today only one thing counts money and success rewards rather Kondo you know you can never have enough money money helps me fulfill my dreams I can afford my hobbies such as motor sports this is not capable and therefore I need a lot of money as easily as possible tiny about dresser on China's new rich spend their money well for evidence you need look no further than the luxury fairs constantly running across the country by 2015 China will replace Japan is the largest single market for luxury goods by then Chinese spending on luxury items is estimated to reach more than 20 billion euros per year according to consulting firm McKinsey don't what are the potential luxury goods market in China is huge there are 1.3 billion Chinese anyone out of territory we would have 130 million potential customers look is fantastic she'll be doodle shadow down there Dalida traditional British sports car manufacturer and Morgan is represented in China for the first time at this trade show they're hoping the new Chinese appetite for luxury goods results in good business the China auto market is is perhaps another story it's now the largest market in the world surpassed the American market and and the appetite for unique cars that have this great combination of heritage with modern performance we think should really the sweet spot with the Chinese consumers that are now looking for something that's a little bit distinctive the trends are convincing the number of Chinese millionaires is increasing rapidly as are the ranks of the super-rich only the United States is home to more dollar billionaires than China Wang defu manages approximately the five hundredth richest firm in China and his personal fortune is estimated at half a billion euros wang was born into a poor family it's a story that's fast becoming the Chinese dream taking him less than 15 years to become the undisputed properties are on the resource island of Hainan certainly not the kind of project he'd have been expected to achieve as a young boy the island is a two-hour flight south of Shanghai and is considered by many Chinese peoples to be the epitome of a tropical paradise a resort no longer only for the rich but increasingly for China's middle class so paid 500 euros to come here we immediately understood why this place is so popular we just want to enjoy ourselves just twenty years ago these were empty beaches now tourism is worth billions it's enough to lure even more investors here you son you're you are you here we have mountains the sea in addition there is a good infrastructure everything you need but most a real-estate market is evolving very fast so what mr. clean you're sure that you have what it takes to make this place a world-famous world-class tourism destination you got gold on board yeah Singh be these men are among the richest in southern China Wang de feu has been invited for a weekend to Hainan by a man who deals exclusively in toys for the rich when diffuse yachts manufactured in the West was made strictly to order it's his belief that sailing and cruising will boost the luxury tourism in high name so he has invested in both remember you didn't legal without Dan the King even me I'm a PC according to Jones little if I had to eat them all at once it's an eternal God no so valuable I would wrap them again and again I started a wife did you I could then sometimes afford to clean out them and a bowl of onions that's was a luxury for us and we were happy a counselor I've earned 20 euros a month Holly min I have works is a day laborer in fact I became an agent I saw oh yeah fertilizer and climbing oh you're like I've only have done many things I got food on the end this is a solar king Dora modesty is not weighing the food thing he is proud of his success and his personal wealth right now that includes hotels supermarkets marinas and entire neighborhoods in Hainan and there are many investors trying to copy him real estate is a popular investment opportunity one of the reasons for this is the difficulty of moving capital overseas but now the Chinese millionaires have discovered the international art market which they flooded with approximately 14 billion euros in terms of money spent at auction houses China is already way ahead of the US at number one in the world it's just over a third of global sales also the Chinese market this is China Guardian auctions one of the largest art auction houses in mainland China last year alone it made more than 1.3 billion euros in revenue thousands of art objects are displayed ahead of each individual auction anyone planning to bid must first deposit 20,000 euros small change for most of the people sitting in the auction room the prices for the artworks grows as an impressive rate shooting up as the seconds tick by often the buyers are not here in person preferring to remain anonymous and give instruction by phone your Challa China's art market is booming though because of lots of money as in circulation people need investment opportunities that they need ways to invest their money there are real estate stocks and even works of art find this has propelled the price of art in China the topic you say that are unusual penis they don't go up legal Chang is one of the most famous art collectors among China's multimillionaires his personal fortune is estimated at around 450 million euros and his office is decorated with oil paintings by contemporary Chinese artists not without pride he says that for this piece alone he paid almost 1 million euros many years ago Sophie I see how I usually some people love enjoy it pull the usual pedal each others just want to earn their money and do nothing about it hoora how would you do if they are pure investors so it hasn't won yet I would cool them speculators pour tea then aren't you sure ah let your daughter mr. Li refuses to give precise details of how he came about his great fortune his company certainly operates in the forestry business investing in real estate and buying up companies the richest man in China Zhang Qing how is a modest man and has hardly any hobbies except smoking cigarettes mr. Zhang started out at 20 euros a day according to him that was all he needed his fortune is estimated to be equivalent to approximately 10 billion euros there was something to eat only once a day I'm used to being I give nothing that's a luxury no matter how much money you have there is a limit how much you can spend it so how much you can eat do the money ultimately belongs to society at that it so I invest incessantly constantly creating new jobs and paying taxes to the state the wha-ha-ha group has become one of China's most successful brands it includes 160 companies in 60 locations across the country and employs some 30,000 people it's core business is the manufacture and sale of the most popular soft drinks in China a market in which were haha products have a share of 60% you guys sitting in a mirror do you have not succumbed to the usual temptations anyway I got fired it's time to quickly make money in real estate or investments I'm still a classic industrial ester yeah this is healthy and Staveley I did it I just did I won't pull a museum on the premises tells the family history Jean King how presents himself as an entrepreneur with heart a man of the people with a sense of social responsibility a showcase for a particularly Chinese brand of capitalism exactly is the Communist Party envisage mr. song is a party member and well-connected China's Supreme Leader's past present and future a personal friends for Zhan to be a capitalist and communist party members simultaneously it's not a contradiction didn't become a member until after I was rich and successful party encouraged private entrepreneurs to join unlike before progress now comes from entrepreneurs who support the Communist Party crack do you think the party is focused on Kong the forces acting on the structure of the economy so they need us I did you thought what is that you guessed there you go to CJ and look at the rich list shows the close connection between big business in the Communist Party out of the 20 richest Chinese entrepreneurs you will find 18 party members also impressive are the incomes of the members of the People's Congress the official Parliament which meets once a year the 70 richest members collectively have assets worth over 65 billion euros this compares favorably to the meager four billion euros available to the 70 richest members of Congress in Washington whilst the irony of wealthy catalysts running the communist party may be lost on men like song grumbles of discontent can still be heard especially amongst the left-wing of the Communist Party from individuals like economists angkong liang he describes the incorporation of capitalists into the party it's an historic mistake directors of companies can't be party secretaries it should be the proletariat secretaries and the directors representing the capitalists when a person takes those two functions one thing is clear the Communist Party is nothing but to come to this party an equally powerful and opaque network has emerged as economic and party interests have merged that's according to Australian economist David Kelly he operates a private research institutes in Beijing market entry is by no means open and it's much easier to get into the market in most of the country if you have the party background but once you're in the market in many sectors in many cases you have to play by the market rules but your entry was not by market rules if you're a businessman you get into a business dispute it might go to court if you're if you're attached to the party you've got the decision you've got the decision in your pocket our amateur racers and young entrepreneurs admit party connections are useful but insist they aren't everything when she's offering even will be dogged war in the eighties businessman could do nothing without the party without contacts it was impossible but now other things are more important today you have to understand and capture the market contacts are of course useful but no more than five to ten percent of the business Lee remains silent about his family background he refuses to reveal the nature of his connections with senior party officials but having these contacts has made it easier for him to make a great deal of money those without contacts who move in the everyday circles of ordinary men can make the pilgrimage to this place who are she supposedly the richest community in China every year around 2 million tourists travel to this model village of red capitalism they all come with only one purpose in mind to find out the secrets of getting rich they can get tips from this 86 year old man every day we were in Bao imparts his wisdom to the pilgrims for decades who is the party chief in who are she it was his vision for transforming the impoverished rural village this is responsible for the residents new wealth how socialism is our number one priority but we also use the positive aspects of capitalism that creates socialism with Chinese characteristics whatever the ideology the main thing is that we become rich together who are she has become a sensor of conspicuous wealth on the 60th floor of the recently completed hotel you can admire this golden ball it's made of pure gold and weighs exactly one Sun and eight kilograms who are she now has dozens of factories the village holding listed on the stock exchange makes more than six billion euros in annual sales the four hundred established local families are shareholders and benefit from the profits all alone exclusive townhouses its wealth the thousands of migrant workers who toil in the factories of who is she can only dream of the rich province of Zhejiang south of Shanghai is considered the cradle of Chinese capitalism the assumed entrepreneurial skill of the residents is apparently taken for granted even when the nation was still on a tight socialist course the grip of the party in say Shang was weaker than in the rest of the country here you can find the headquarters of neo glory world leader in fashion jewelry the boss miss Zhao embodies the Chinese dream from a poor farmer's daughter it's one of the richest women in China miss Zhao found her start selling cheap junk traveling is a stowaway on the nation's railways logo its attempt without new canoe I was able to get a seat I could ride continuously when it came to the evenings I would creep under the seats during the day I stood in the hallway again days past year after year it was very difficult to make money Jim that was 25 years ago today miss Zhao has a fortune of 2 billion euros employs six thousand people and has long since moved into the real estate and grocery industries her partner's occupies the top floors of the company's seven storey headquarters hundreds of square meters housing for generations that's 36 family members some of whom sit on the board of the group her extended family is intricately woven into the success with Miss Zhao is aa disorder so moany bagua sandy my how didi there so I'm her sister along with her husband is responsible for our partnership with the Austrian company its ferocity Michael set up a solution was she'd home this lunch meeting is between a group of investors from South China they talk about golf projects it could be developed jointly events and transactions like these dominate the life of Miss Zhao this means she has little time for much else this Buddhist temple is her retreat it provides short moments of calm in the restless life of a confident woman who she says has had to work hard to succeed in the male-dominated business world of China Sinclair is your salman's well since willow Nylund Jo from birth there are those in our society who claim that men are strong supposedly slightly weaker in these areas you have to bring exactly these characteristics which are the wors cheap and cheap Bates's own I took a Sanka family three decades of economic liberalisation have changed the face of China those benefiting most from the change of the children of the first generation of pioneering red capitalists a modest accustomed to success been able to spend more money in one luxury evening than others can earn in a year this is life in the new China and it looks as though the red ideals of the past have probably been discarded forever you

  1. I would really appreciate not his voice translating as well as narrating everything. Too much monotone for me😭

  2. with all those riches they cant speak english? im asian but I manage to learn how to speak english and im poor lol.. #SoProudOfMyself

  3. Many Chinese billionaires or millionaires they are not only have the Chinese PASSPORT, Their Family or descendants or them self holding another PASSPORT as well. I think THE PASSPORT VALUE is the biggest problem of the Chinese citizen WHOM want to Travel Easier.No Matter they Rich or NOT.I was Born in Western Guangdong Province. Currently I working as a salary man in Shenzhen city,Southern China,August 2018,I was traveling South East Asia, Vietnam,Cambodia,Thailand,Laos.But before I get on the road,I spent 2 weeks to apply my VISA of these Four Countries.And at the Cambodia – Thailand Border,the immigrant officer try to refuse me to Entry Thailand .And He said"Sorry, You Can't Entry here,Only can Fly in Bangkok".And I known they have A lot of REASONS to block me.So I Gave Up the controversy.After a few hours,The sky is getting dark,Finally The Officer Let me Passed,But The BUS AND THE European passages THEY ARE Arrived in Bangkok 4 hours ago….I hope some day CHINESE PASSPORT VALUE will getting higher and higher as the Western Countries.IN the rest of my life.

  4. I was intrigued by the title, but how can you call them Socialists? Certainly not all those featured, maybe one or two of them. Perhaps it could have been a comparison between approaches towards capitalism in China.

  5. This is capitalism at its worst. These people are the scum of the earth and will die first when a civil war breaks out and the billions of poor people come for them which will happen eventually the Greeks knew it and protected themselves with a kinda universal pay I believe.

  6. China is a Economic Super power built on slave labor, but what separates them from the U.S. is that the U.S. currency and military is far more trust worthy worldwide and the an Economic and political super power, that will back up their're allies politically, and economically, and militarily if needed, this is what separate the 3 current super powers and why the soviet union failed, china will also suffer the same fate, when they think that money can buy everything.

  7. The richest man in China has such a great vision and ideology giving no money to luxury but to helping people, just like bill gates well done

  8. I will not touch them with a barge pole, money corrupts look at the so called elites of this world and their morals, past disgusting.

  9. All animals are equal, but some animals are more equal than others. A proclamation by the pigs who control the government in the novel Animal Farm .
    George Orwell
    Socialism Judeac Marxist cult in East .
    Almost half the world — over three billion people — live on less than $2.50 a day. At least 80% of humanity lives on less than $10 a day. More than 80 percent of the world's population lives in countries where income differentials are widening.
    And Greedy Multinational corporations Capitalist in west .
    In Middle we have Sheiks who don't fell hesitate to cut anyone's Head .
    What A Time to live in the only Human living Planet earth .

  10. Same exact thing will happen in the U.S. with socialism. Politicians and a small segment of rich people will become ever more wealthy, while the middle classes disappear into that good night kicking and screaming

  11. This's such an old video. Was made probably 5 years ago. The image of shanghai in it doesn't even show the highest building.

  12. It makes me sad that crap like this is a more sought after demonstration of wealth, rather than a contest to see how many people you can help. Instead of how much money you can waste on cars, be a force of good in the world.

  13. I hope these new rich can help with humanitarianism like lifting Haiti out of poverty or protecting Uyghur and Tibetans civil rights. Fight for the people!

  14. Old story, new context in cars! 911 isn't so bad to afford even after tax and being way more expensive than the states. But definitely lots of Fu Er Dai and second generation money spent mindlessly.
    At least the Porsche guy is a proper trying enthusiast regardless of if he made his money to buy the car. He was fully tracking and looked like a used 911 997 turbo S

  15. Things need to be put into perspective. China's economy is still around 60% planned (just like the USSR was),however 40% capitalist influence on a market of 1.4 billion people will always result in massive accumulation of concentrated wealth.

    Also this documentary implies that central committee members or politburo members (the people who run the country) are capitalists. This simply isn't true. You can't become a central committee member if you are a large business owner and you can't be voted into the politburo without already being in the central committee. Central committee and politburo members earn a typical white collar wage.

    The state regulates the market so heavily it's difficult to define China as capitalist or socialist. It's a strange setup they have,but it seems to be working for them.

Leave a Reply

Your email address will not be published. Required fields are marked *