China's wealthiest lavished 500 million yuan (62.5 million US dollars) on Hennessy XO spirits, Porsche sedans, South African diamonds and other luxury goods during a show in Shanghai, double the value of transactions a year ago, The Standard reported. Top Marques, a four-day show that has its origin in Monaco, attracted 12,000 visitors last week with exhibits of 70 luxury brands, including 300,000 US dollars De Bethune watches and 426,983 US dollars Lamborghini sedans, said the paper. "China has embraced every aspect of luxury pursuits, whether it's hunting, gambling, jets or yachting," said Peter Thompson, a partner of yacht broker Cavendish White, whose clients include US tycoon Donald Trump. "There're a lot of rich people and they have a desire to explore new ways of life." The nation's luxury-goods market is growing up to 60 percent a year and has been targeted by retailers such as Prada, Bulgari and Valentino. Average economic growth of 9.7 percent a year since 1978 has created an estimated 300,000 US dollar millionaires in China, spurring demand for designer brand clothing, jewelry and watches. Moet Hennessy Louis Vuitton, the world's largest luxury goods maker, plans to open two to three stores a year in China, where sales are rising 50 percent annually. Its rival, Cie Financiere Richemont, expects to quadruple sales within five years by selling more Cartier jewelry and Piaget watches.