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China's Super-Rich Get "Poorer" (26th September, 2012)

Many of China's richest people have become poorer in the past year. This is what the Chinese business magazine "Hurun" says in its latest "China Rich List" report. The magazine said China had 251 people worth $1 billion or more. This is 20 billionaires fewer than last year, but still a lot more than in 2006, when there were just 15. "Hurun" reports that almost half of the 1,000 richest people in China saw their wealth go down in the past 12 months. The biggest reason for this is the fall in property prices.

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The "Hurun Report" says there are currently 960,000 'millionaires' in China. Of these, 70 per cent are men and 30 per cent are women. A Chinese millionaire has 10 million Yuan or more. This is the same as $1.5 million, £950,000 or €1.1 million. He or she is an average age of 39, which is 15 years younger than Western millionaires. The report said: "These super-rich tend to own three properties, five luxury watches and four cars." It added: "There has been a surge of interest in drinking fine wines and collecting art."

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PHRASE MATCH

Match the following phrases from the article.

Paragraph 1

1.

China's richest people have

a.

$1 billion

2

251 people worth

b.

12 months

3.

20 billionaires fewer

c.

more than in 2006

4.

still a lot

d.

property prices

5.

in the past

e.

become poorer

6.

the fall in

f.

than last year

Paragraph 2

1.

there are currently

a.

fine wines

2

This is the same

b.

of interest

3.

He or she is an average

c.

art

4.

There has been a surge

d.

960,000 'millionaires'

5.

drinking

e.

age of 39

6.

collecting

f.

as $1.5 million


LISTENING GAP FILL

Many of China's richest people (1) ___________________ in the past year. This is what the Chinese business magazine "Hurun"  (2) ___________________ "China Rich List" report. The magazine said China had 251 people (3) ___________________ or more. This is 20 billionaires fewer than last year, but still a lot more than in 2006, when (4) ___________________ 15. "Hurun" reports that (5) ___________________ 1,000 richest people in China saw their wealth go down in the past 12 months. The biggest reason (6) ___________________ fall in property prices.

The "Hurun Report" says (7) ___________________ 960,000 'millionaires' in China. Of these, 70 per cent are men and 30 per cent are women. A Chinese millionaire has 10 million Yuan or more. This (8) ___________________ $1.5 million, £950,000 or €1.1 million. He or she (9) ___________________ age of 39, which (10) ___________________ than Western millionaires. The report said: "These super-rich (11) ___________________ three properties, five luxury watches and four cars." It added: "There has been a (12) ___________________ in drinking fine wines and collecting art."


MULTIPLE CHOICE

Many of China's richest people (1) ____ become poorer in the past year. This is what the Chinese business magazine "Hurun" says in its (2) ____ "China Rich List" report. The magazine said China had 251 people worth $1 billion or (3) ____. This is 20 billionaires (4) ____ than last year, but still a lot more than in 2006, when there were just 15. "Hurun" reports that almost half of the 1,000 richest people in China (5) ____ their wealth go down in the past 12 months. The biggest reason for this is the fall (6) ____ property prices.

The "Hurun Report" says there are (7) ____ 960,000 'millionaires' in China. Of (8) ____, 70 per cent are men and 30 per cent are women. A Chinese millionaire has 10 million Yuan or more. This is the (9) ____ as $1.5 million, £950,000 or €1.1 million. He or she is an average (10) ____ of 39, which is 15 years younger than Western millionaires. The report said: "These super-rich tend to (11) ____ three properties, five luxury watches and four cars." It added: "There has been a surge of interest in drinking (12) ____ wines and collecting art."

Put the correct words from this table into the article.

1.

(a)

have

(b)

are

(c)

do

2.

(a)

lately

(b)

late

(c)

latest

3.

(a)

many

(b)

more

(c)

most

4.

(a)

smaller

(b)

fewer

(c)

less

5.

(a)

saw

(b)

looked

(c)

viewed

6.

(a)

on

(b)

in

(c)

at

7.

(a)

currency

(b)

currants

(c)

currently

8.

(a)

these

(b)

them

(c)

they

9.

(a)

equal

(b)

same

(c)

alike

10.

(a)

years

(b)

old

(c)

age

11.

(a)

own

(b)

live

(c)

private

12

(a)

OK

(b)

well

(c)

fine


SPELLING

Spell the jumbled words (from the text) correctly.

Paragraph 1

1.

China's rthcesi people

2.

business eanigmza

3.

people orwht $1 billion

4.

rewfe than last year

5.

The biggest esaron for this

6.

the fall in eppyrotr prices

 

Paragraph 2

7.

there are enylutrrc 960,000

8.

A Chinese lomialeiirn

9.

an ervaaeg age of 39

10.

xruuly watches

11.

There has been a surge of etnisetr

12.

tceinllgco art


PUT THE TEXT BACK TOGETHER

Number these lines in the correct order.

(    )

251 people worth $1 billion or more. This is 20 billionaires fewer than

(    )

tend to own three properties, five luxury watches and four cars." It added:

(    )

The "Hurun Report" says there are currently 960,000 'millionaires' in China. Of these,

1  )

Many of China's richest people have become poorer in the past year. This is what the Chinese

(    )

"There has been a surge of interest in drinking fine wines and collecting art."

(    )

business magazine "Hurun" says in its latest "China Rich List" report. The magazine said China had

(    )

70 per cent are men and 30 per cent are women. A Chinese millionaire has 10 million Yuan or more. This is the

(    )

half of the 1,000 richest people in China saw their wealth go down in the past

(    )

12 months. The biggest reason for this is the fall in property prices.

(    )

last year, but still a lot more than in 2006, when there were just 15. "Hurun" reports that almost

(    )

age of 39, which is 15 years younger than Western millionaires. The report said: "These super-rich

(    )

same as $1.5 million, £950,000 or €1.1 million. He or she is an average


PUT THE WORDS IN THE RIGHT ORDER

With a partner, put the words back into the correct order.

1.

people     richest     poorer     China's     become     of     have     Many.    

2.

$1     had     251     billion     people     worth     China.    

3.

This     than     is     last     20     year     billionaires     fewer.    

4.

in     people     richest     1,000     the     of     half     Almost     China.    

5.

the     is     This     prices     property     in     fall.    

6.

'millionaires'     in     China     There     are     currently     960,000.    

7.

millionaire     million     more     Chinese     10    or     A     has     Yuan.    

8.

is     age     she     average     39     or     an     of     He.    

9.

three     These     rich     own     -     to     properties     super     tend.    

10.

surge     fine     of     wines     interest     in     A     drinking.    


DISCUSSION (Write your own questions)

STUDENT A's QUESTIONS (Do not show these to student B)

1.

________________________________________________________

2.

________________________________________________________

3.

________________________________________________________

4.

________________________________________________________

5.

________________________________________________________

6.

________________________________________________________

------------------------------------------------------------------------------

STUDENT B's QUESTIONS (Do not show these to student A)

1.

________________________________________________________

2.

________________________________________________________

3.

________________________________________________________

4.

________________________________________________________

5.

________________________________________________________

6.

________________________________________________________


WRITING

Write about super-rich people for 10 minutes. Show your partner your paper. Correct each other's work.

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________


HOMEWORK

1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google's search field (or another search engine) to build up more associations / collocations of each word.

2. SUPER RICH: Search the Internet and find more information about the super rich. Talk about what you discover with your partner(s) in the next lesson.

3. MAGAZINE ARTICLE: Write a magazine article about super-rich people. Include an imaginary interview with one. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.

4. WHAT HAPPENED NEXT? Write a newspaper article about the next stage in this news story. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.

5. LETTER: Write a letter to a super-rich expert. Ask him/her three questions about being super-rich. Give him/her three of your opinions on being so wealthy. Read what you wrote to your classmates in the next lesson. Your partner will answer the questions you asked.

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