On August 14, the Hurun Research Institute, together with GroupM Knowledge, released the GroupM Knowledge-Hurun Wealth Report 2013. The 40-page research report analyses China’s wealthy people broken down according to their regional distribution across China, as well as their investments, consumption preferences, and how they use the media.
The number of millionaires (defined as individuals with a personal wealth of CNY 10 million, equivalent to US$1.6 million and GBP 1 million) grew by three percent in 2012 to 1.05 million, while the number of the super-rich (defined as individuals with a personal wealth of CNY 100 million, equivalent to US$16 million and GBP 10 million) reached 64,500, up two percent from the previous year. The growth, the slowest in five years, has decelerated for the second consecutive year.
Beijing remains in first place with an increase of 5,000 to 184,000 millionaires, and with an increase of 200 to 10,700 super rich. Guangdong ranks second with 172,000 millionaires and 9,600 super rich. Shanghai follows with 147,000 millionaires and 8,500 super rich.
A quarter of the millionaires say they are very confident about China’s economy in the coming two years, a decline of three percent from the previous year. The confidence level of the year before was 54 percent. Sixty-six percent of the millionaires say they are fairly confident – a two percentage point increase from a year earlier, while nine percent of millionaires say they are not confident – a two percentage point increase from a year earlier. This is the highest number in last three years.
Source: Xinhua, August 15, 2013