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Subject: The number of high net-worth individuals (HNWIs) in China has been on a sharp rise in recent years, according to the 2017 China Private Wealth Report…
Excerpt: English text from the archived bilingual edition · Chinese edition
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The number of high net-worth individuals (HNWIs) in China has been on a sharp rise in recent years, according to the 2017 China Private Wealth Report released by Bain Consulting and China Merchants Bank
The new analysis says there are approximately 1.58 million Chinese millionaires who are currently holding around 165 trillion yuan (around 24.17 trillion dollars) in combined wealth as of the end of 2016. This is 9-times the amount of millionaires and money they possessed a decade ago
Among them, the total number of high net-worth individuals who are in possession of over 100 million yuan worth of investable assets has increased 11-fold over the past ten years
Based on annual growth rates, the report predicts China’s private wealth market will show steady growth through 2017, with total assets among Chinese millionaires hitting 188 trillion yuan
It also predicts the number of high net-worth individuals to climb to 1.87 million
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