The third Shanghai International Debutante Ball tries to set a tone for China's nouveaux riches seeking luxury lifestyles. Gao Erqiang / China Daily

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And the attractions of the ball, apart from nice food, good wine and well-dressed girls, that keep luring presentable young men from all over the world to the annual event are many.

"The ball in Shanghai is very young," says Aubin Dupree, a US captain who now lives in London. Three out of his five trips to China are exclusively for the ball, although the descendant of a well-off family in Boston has attended to events like this a lot back in London.

"In England, it's been happening for hundreds of years. There are always so many traditions and rules. While in Shanghai, Vivian (the organizer) can do anything. She is able to improve and try new things//such as??? I've sent query to writer early this morning//. It's young and fresh," he says.

Lai, for his part, thinks the ball is still "very important" because it "builds character" in a lot of different ways that iPhone apps and video chatting on computers - today's widely popular routes for young people to be "social" - cannot.

"Being put on such a stage where there are a lot of people watching, in many cases, families, friends flown all over, it prepares us for certain things in real life," he explains.

For example, in business, when meeting people who are much more accomplished, or those who are very much looked up to, the intimidation factor is reduced because "we have been presented on a similar stage".

"And that's a skill that only comes with experiences, rather than the virtual world, or even classroom," he adds.

"You almost need to feel the sweat in your hands to know what it feels like," Lai says, recalling the first year when he escorted the first-ever modern Chinese debutante, Jen Hau, among the original 13 into "Shanghai society", though he acknowledges he was just one of the supporting members of the cast.

Of course, the kind of "palm-wetting" experience comes at a cost, and not a low one.

Zhou has never revealed to the public the cost of the ball, mostly covered by her and sponsors such as French jewelry house Chaumet. Zhou, the president of an entertainment company and the youngest daughter of Peking Opera master Zhou Xinfang, emphasizes over and over that elegance and style are never compromised to make profits from the ball.