Ping-pong was once the poster sport of the Chinese Communist Party – but today, Chinese people would sooner shoot hoops or drive the fairways. Beyond simple health and fitness, like everything in China, sport has become an issue of status and politics.

As austerity in China comes to an end, the economy is starting to look up, with luxury brands reaping the rewards. But as flashy gifts have become demonised by associations with bribery and corruption, is the luxury watch market keeping in time with the desires of Chinese consumers?

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?

“They know only how to show off their wealth, but don’t know how to create wealth.” This is how China’s United Front Work Department describes one of modern China’s biggest irritants – the fuerdai. These second-generation rich kids are causing nationwide embarrassment in an age of austerity.