On April 12, 2011, Hurun, known for its annual ‘China Rich List,’ released a Hurun Wealth Report 2011 in association with GroupM Knowledge, a media communication group. The report details the number of millionaires broken down by region across China.
China has 960,000 ‘millionaires’ with personal wealth of 10 million yuan or more (US$ 1.5 million), up 85,000 individuals or 9.7% from 2009. Among them, 55% derived their wealth from their private business. 20% are property speculators, who have ridden the fast upsurge in home prices. 15% are stock market gurus, who are also the youngest with an average age of 38. The remaining 10% are high earning, salaried executives. China has 60,000 ‘super rich’ worth 100 million yuan or more (US$ 15 million), up 9.0% from last year. Beijing leads the way with 10,000 individuals followed by Guangdong with 9,000 and Shanghai with 7,800.
Source: Hurun Report, April 12, 2011