Rupert Hoogewerf, author of the 2008 Hurun Report of New Aristocracy, says "being rich and living the life of an aristocrat are not the same thing."

An aristocrat in China generally spends about $675,000 a year, much of it on a premium standard of living.

Hoogewerf, better known by his Chinese name Hu Run, said the report was compiled after analysing the lifestyles of more than 100 super rich people in China. Not all spend lavishly.

The report describes the life of a typical aristocrat.

He is someone in his 40s, lives in Shanghai with his wife and has a son about 17 years old studying in Britain.

He owns a villa in the city and an apartment in Beijing, has four cars in his garage including a Rolls-Royce Phantom for himself and a Mercedes-Benz ML500 for his wife.

He enjoys playing golf and has paid more than $515,000 to join golf clubs in Shanghai and Beijing.

Sometimes, he and his friends will charter a plane to play golf in Hainan province.

He has four watches including a Vacheron Constantin and an Oyster Perpetual Datejust, and his wedding ring is very likely from Tiffany Legacy.

He has recently developed a liking for wines. Chateau Lafite Rothschild, costing about $34,000 per crate, can be found in his cellar.

He smokes Davidoff Classic No 2.

He is now more involved in charitable causes, compared to last year.

Hoogewerf said that within a week of the May 12 earthquake, the top 100 richest people in the country had donated $120 million, about 10 per cent of the total donations received by the ministry of civil affairs.

"More and more people are curious about the lifestyles of the rich in China. We want to give them an insight," he said.

Hoogewerf estimates that currently there are only 50,000 people in the country who can maintain such a lifestyle.

Last year 150,000 people could be considered having led an aristocrat life at a cost of $5.5 million.

However, some entrepreneurs do not want to pursue the lifestyles of their peers.

Yu Minhong, CEO of the New Oriental Group who ranked 134th on the 2007 Hurun China Rich List, said: "I do not know where I can spend so much money. Maybe one day, I will buy a villa costing millions of yuan, but not now."