Business is thriving; it's time to see the world.
Business is thriving; it's time to see the world.
The desire for travel and exploring the world is a dream many hold in their hearts. Due to work reasons, I've recently been traveling frequently to attend domestic and international tourism trade shows, which sparked a profound reflection on life. An old friend from Shaanxi, a coal mine owner in Yulin who I hadn't contacted in a while, suddenly expressed envy towards me on social media.
"I've been following your social circle closely, looking at the photos of your trips abroad, and I'm very envious. I've also seen that the world isn't just about the darkness under the coal mines; there's also the beauty of nature... You've seen different regions, local customs, and traditional practices. That's the perfect combination of work and life."
I felt slightly embarrassed by his flattery, but it also resonated with me. After learning he had recently invested in a hotel, I asked him if he was planning to travel anywhere.
His response showed intense longing mixed with some hesitation: "These past two years, the coal business has been good, and I've been busy making money, but I really want to go out and see the world." As he pondered where to take his family post-pandemic, he inquired about several places from Spain to Australia, and then to Fiji.
Upon finding out he only had a week of vacation available, I suggested he consider the direct flights from Yulin. To my surprise, I discovered that starting in 2024, despite Yulin being a third- or fourth-tier city without high-speed train service, it had already launched four direct international flight routes:
This has provided convenience for locals to travel abroad, especially for time-conscious coal mine owners, fulfilling their desire to see the world. Influenced by the recent decline in the Japanese yen exchange rate, many coal bosses have made Japan their shopping destination.
In China, the term "coal boss" has become synonymous with wealth. They invest in luxury homes and commercial real estate in cities like Beijing, Sanya, Shanghai, and Xi'an. Notably, in the past year, many coal bosses have achieved huge profits.
According to the International Energy Agency's (IEA) coal market report, in 2023, China's coal consumption increased by 5% compared to the previous year, reaching 4.74 billion tons, and the number of newly built coal-fired power plants hit an eight-year record. With the surge in energy demand and the start of a new cycle, the myth of the nouveau riche striking it rich is replayed.
Taking Yulin as a case study, we can observe the significant presence of Shaanxi province in China's coal production. According to the 2023 data from the Shaanxi Coal Industry Association, Shaanxi ranked third in the country in raw coal production, with Yulin city claiming the second spot nationally. Compared to many businesses still struggling to break even, coal business owners in Yulin seem to need only to mine the coal from the ground to make a steady profit, despite the fact that their experiences are also filled with hardship and sorrow.
In the first quarter of 2026, the GDP of Yulin City climbed to 174.115 billion RMB, ranking second in the province, while its nominal growth rate of 12.61% was the highest in the province. Such growth in wealth has prompted some coal enterprise owners to look for opportunities outside of the coal business. Following the ups and downs of their golden era, some have chosen to invest in hotels and office buildings, building a future for their children that isn't reliant on coal resources; while others opt to indulge in the present, sharing quality time with family and experiencing the vastness of the world.
In Yulin, whether it's mothers discussing overseas shopping with enthusiasm, rich ladies talking about international luxury experiences at club dinners, or billionaire women sharing their travel tales, all of these scenarios reflect a "Gatsby"-like opulence. Traveling far has become one of the activities the people of Yulin long for. According to data from Yulin's Port Service Center Airport Port Department, as of March 27th of this year, Yulin has successfully launched several international flights, carrying thousands of passengers, with a seat occupancy rate generally higher than the national average.
It’s not just the "coal bosses" who have an increasing demand for outbound tourism. The Hurun Research Institute's report indicates that China's high-end consumer market is growing, with tourism, health services, and premium tobacco and alcohol markets being the main growth points. The coal bosses of Yulin, as representatives of the affluent, look forward to traveling abroad but often feel out of their element when it comes to spending. Though some may own expensive watches, luxury cars, and heavy gold jewelry, they struggle to find joy and satisfaction in spending during their travels.
Interestingly, the coal bosses of Yulin seem to have an inevitable connection with Xi'an – from investments and property purchases to travel experiences, Xi'an is a significant pivot in their lives. This resembles the coal boss depicted in Jia Zhangke's movie "Mountains May Depart," who named his son "Zhang Dale," a pun indicating a yearning for the dollar. The coal bosses may know little English, but they are keenly aware of the power of money.
The tides of the times have undoubtedly given rise to the prosperity of the coal industry, and with it, the ascension of coal bosses. Today, their lavish lifestyles, whether it involves buying world-renowned art at sky-high prices, constructing skyscrapers with stacks of cash, showcasing luxury vehicles at every turn, or the astonishingly expensive gifts for weddings, continue to be hot topics of discussion.
The fates of the coal bosses fluctuate like ocean waves, sometimes riding the trend of the times, and at other times breaking old perceptions. Mr. A once shared his life's philosophy with me, influenced by "Das Kapital," he set three stages for his life: first, to accumulate capital as soon as possible; second, to step into the development of large-scale industry; and finally, to achieve the freedom of globetrotting and enjoying life. Mr. A, who recently returned from a trip to Japan, now intends to skip the second step and move directly to the third step he longs for. He yearns for the years filled with wilderness, adventure, and passion to quickly fade away, so he can start the journey of enjoying the happiness of sharing and receiving likes.
Nowadays, coal bosses are queuing up to seek opportunities to go abroad, hoping to start a brand new chapter in a foreign land.
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