During the Qing Dynasty, Kweichow Moutai's baiju became the first Chinese liquor to go into large-scale production. In modern China, it’s been celebrated as the ultimate in alcohol finery, drunk by US presidents and retailing at as much as $300 a bottle. That is, until ostentatious luxury fell out of favour.

Luxury brands have enjoyed a meteoric rise amongst the expanding Chinese middle class, but with anti-corruption laws dampening the spirits of conspicuous consumers, shopping habits are shifting dramatically.

Renowned for an insatiable appetite for luxury, within ten years China will account for 50% of global luxury purchases. But as discretion becomes the mark of distinction, who are these luxury consumers, how are their tastes evolving and what compels them to part with their cash?

Many claim that public consumption of expensive, ostentatious luxury items is about displaying social climbing. But in China, people increasingly consume luxury in private. It's a kind of "self-reward", says UIBE professor Mike Bastin.