Skip to content

Hurun Report: Ninety Percent of Billionaires Send Their Children to the West for Education

The Chinese Luxury Consumer White Paper 2012, a joint study done by China’s Industrial Bank and the Hurun Research Institute, was published on March 27, 2012. The study revealed that the number of China’s wealthiest individuals, those with net assets of over six million yuan (~US$1.0 million) has increased to 2.7 million; their average age was 39 years old. The number of those with more than 100 million yuan (~US$16 million) reached 63,500; their average age was 41 years old. Among them, 85 percent plan to send their children overseas for education; 90 percent of the super rich (billionaires) plan to do so.

Source: People’s Daily, March 28, 2012.