SOME of the rich businessmen in the city of Jinhua, East China's Zhejiang Province, have found a new way to flaunt their wealth - through the dogs they own.

These days a "dog war" is being waged between two businessmen in Yongkang, a county-level city under the administrative control of Jinhua City. Each of the two men owns a company and each has already spent more than 200,000 yuan (US$24,096) buying dogs.

Just last month, they each bought three dogs. The price of the first dog was around 3,000 yuan (US$360). But as the "dog fight" escalated, the latest dog was purchased for the stunning price of 130,000 yuan

(US$15,600). Yet the war hasn't ended yet as neither of side wants to surrender.

Such contests have been quite popular among the wealthy people of Jinhua recently, according to Zhejiang Daily. Many rich businessmen have taken pet dogs as a symbol of their status and identity.

The breed of the dog can reflect the economic situation of a family, with a comfortably-off family usually owning a dog worth a few thousand yuan. Among richer families, dogs are more expensive.

Such conspicuous consumption by wealthy businessman has greatly improved the profits of local dog farms.

One dog farm in Yongkang, named Huanyu, has just sold a dog for 350,000 yuan

(US$42,000). According to the farm's boss, business has been getting better every year since it started in 1998. A special Tibetan breed of dog, famous for its ferocity towards strangers and loyalty to its owners, has been especially popular among local rich people. The prices of the dog vary from 2,000 yuan to 500,000 yuan (US$240-US$60,000). He has sold more than 1,200 such dogs since starting the business.