China loves luxury, buying almost half of the world's high-end goods in 2015. But with the price tags associated with these products rising when imported into China, people are turning elsewhere to get their taste of opulence. So where are they heading to for luxury items?

It's action time for Chinese cinema, as the second homegrown movie in a year sets a national box office record. Even as Hollywood movies tempt Chinese audiences, the domestic box office revenues are growing so fast, that China’s movie market is set to outdo Hollywood by 2017.

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?

Whether driving Lamborghinis or splashing out at Louis Vuitton, the 20-something sons and daughters of China’s wealthiest business moguls are living the life. But as a nation in the midst of an anti-austerity drive, no one in China likes a show-off. Are thefu’erdaireally as bad as their rep?