The number of "wealthy families" with at least 6 million yuan (about US$930 thousand) assets in China exceeded 5 million for the first time in 2020, an increase of 1.4% over the previous year, according to Hurun Research Institute.
Beijing is still the area with the most "wealthy families" with assets of at least 6 million yuan, with Guangdong and Shanghai ranking second and third.
For the first time, the number of "wealthy families" exceeded 5 million, an increase of 1.4% over the previous year. The number of "high net worth families" with over 10 million yuan assets increased by 2% over the previous year to 2.02 million.
The number of "super high net worth families" with over 100 million yuan (about US$15.54 million) assets increased by 2.4% to 130,000 over the previous year.
The total wealth of these Chinese "wealthy families" with no less than 6 million yuan assets is 146 trillion yuan, which is 1.5 times of China's one year GDP, according to the Hurun report.
Ch...
Already subscribed? Sign in.
Don't Miss Out.
Invest with as little as one bottle of water per week.
Join other top analysts and business executives and navigate the unique market with China Internet Watch.
Cancel at any time