Chinese Mainland Getting On-Board With Private Jets
A far cry from the majority borderline poverty stricken Communist population that all too many people in the west would blindly and unknowingly expect, new economic news from China has added to the widely held impression that this nation is indeed one on a steep rise to prominence and exponential wealth. Oh yes folks, it would appear that China is continuing to play catch up with the ever—affluent mega rich societies of Americans, Europeans and Arabs darting around the globe in their private jets.
In spite of the national Governments continued efforts to deter well known big-spenders from extravagant, and let’s face it not always entirely necessary spending, it would seem the ever-growing Chinese collection of high net worth big shots have acquired quite the taste for luxury airliners.
Whilst recent figures would indicate that there are over 11,000 private jets in total registered out of the United States, the Chinese Government have felt the need to encourage a stemming in the amount doing the rounds in their airspace, despite a total figure of active private craft barely exceeding 130.
As could be expected, most are pinning the steady rise of private jets on the growth of ultra-wealthy, or ‘ultra-high net worth’ (UHNW) individuals who call the vast country home. With such a high amount of wealth shared out among so few (approx. $1.7trillion split between some 1,245 individuals), it’s hardly surprising each of these people can a) afford a high spec jet all for themselves and b) see absolutely no harm whatsoever in commissioning one of the big names (Falcon, Cessna, Bombardier, Gulfstream, Embraer…) to create it for them.
Of course, the increase in demand is being welcomed with open arms by aforementioned industry leaders, who have presumably waiting quite some time to break fully into the progressively lucrative Chinese mainland’s high-roller market.
Any criticism of the growing amount of ‘lavish’ expenditure on the part of the Chinese business class is however being swept aside by many who are quick to point out firstly the rate of growth the nation’s economy is noting, and for that matter has been noting for some time now, as well as the sheer size of the nation. After all, business figures can’t be in two places at once and our species remains without the good fortune of teleportation technology as of yet.