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Chinese billionaires prefer anonymity over public attention

Chinese billionaires prefer anonymity over public attention

Wang Hongquan, a Chinese influencer known for flaunting his extravagant lifestyle to millions of followers, has suddenly disappeared from social media. His lavish displays of wealth, including multiple luxury apartments and expensive jewelry, have come to an abrupt halt after a government crackdown on internet celebrities who showcase excess.

The Chinese government’s new focus on promoting “rational and healthy consumer values” has forced influencers like Wang Hongquan and Big Sister Abalone to rethink their online presence. The era of flaunting wealth and indulgence is over, as the Communist Party shifts towards promoting “common prosperity” to address growing inequality in Chinese society.

In a country where economic disparity is increasingly visible, even the wealthiest individuals are choosing to adopt a more modest lifestyle or seek refuge overseas. Chinese leader Xi Jinping’s emphasis on curbing corruption and promoting a more equal distribution of prosperity has resonated with the public, leading to a quiet retreat of ostentatious displays of wealth.

As China navigates this new era of “common prosperity,” influencers like Wang Hongquan find themselves at a crossroads, forced to adapt to a changing social and political landscape.

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