Recent data from the Hurun Research Institute reveals a nuanced shift in China’s wealth landscape, marking a slight decline in the country’s affluent families. As of January 1, 2023, the number of “affluent households” in China, defined as those possessing assets over 6 million yuan (about US$830k), slightly decreased by 0.8%, totaling 5.14 million households. […]
HNWI
China’s wealthy families exceeded 5 million in 2020; there are their desired brands
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 […]
China now the second-largest wealth market with 2.3M HNWIs
China has overtaken Japan to emerge as the second-largest wealth market, with an estimated 2.3 million high net worth individuals (HNWI) including almost 26,700 UHNWs in 2019 – though the market remains substantially smaller than the US, according to research company Wealth-X.
China has 249 billionaires, worth US$670 bn in 2016
There are 2,397 billionaires in the world, which represents a 3.1% decline in billionaire population in 2016, the first annual decrease since the global financial crisis according to Billionaire Census 2017 by Wealth-X.
China’s HNWI outbound tourism trends in 2016
On average, a high net worth individual (HNWI) in China has been to 10 countries, according to a Hurun Report. Chinese HNWIs travel abroad 3 times per year. Each trip takes 10 days and costs about 50,000 yuan.
China’s ultra high net worth individuals grown to 1.34 million in 2016
The number of ultra high net worth individuals (UHNWI) in China reached 1.34 million, an additional 130,000 compared to 2015 as of May 2016 according to Hurun Research.