China has 55,000 businesspeople with a fortune of at least 110 million yuan (US$16.5 million) who could retire from work at the age of 45 and devote themselves to "a pleasant retirement," according to a Hurun report issued yesterday.

The report focuses on the new lifestyles of China's rich entrepreneurs who have earned enough money in business and who are now seeking to wave goodbye to work and concentrate on enjoying a quality life of leisure.

It is the first time the Shanghai-based Hurun Research Institute has issued a report on the topic of the wealthy retired and those contemplating early retirement.

The report found that rich people looked forward to world travel, improving their health, furthering their education and spending more time with their families and friends while devoting themselves to activities which would be of benefit to society.

"Nowadays, rich people are learning to taste their life instead of devoting themselves to busy work all the time," said Rupert Hoogewerf, the report's compiler.

Travel is the favorite choice for the retired rich as they explore nature, different cultures and architecture by visiting other countries.

The report shows that the rich people go aboard more often than other wealthy people and have 16 holidays a year on average, compared with 10 two years ago.

The United States is still the No.1 choice of destination for the retired rich. France is their favorite destination in Europe, followed by Britain.

Sanya in Hainan Province, Yunnan Province and Hong Kong are listed as their top three favorite destinations in China. Macau does not even feature in the top 10 but the report says this might be because rich people didn't want to admit going to Macau, a center for gambling, but would rather say they were in Hong Kong.

Retired rich people pay more attention to their health, the report found, and golf has become their favorite sport. Other favorite pursuits include swimming, tasting tea, going to spas and having foot massages.

Many pay to send their offspring to the United States, Britain and Canada for an international education while also furthering their own learning.

The retired rich own seven exclusively pricey watches and five luxury cars on average.