LINE

Text:AAAPrint
Society

Beijing has highest density of high net worth individuals: report

1
2016-11-09 09:20CRIENGLISH.com Editor: Wang Fan ECNS App Download
Number of Chinese HNWIs in 2016 by different asset levels.(Photo: CRIENGLISH.com/Wang Xin)

Number of Chinese HNWIs in 2016 by different asset levels.(Photo: CRIENGLISH.com/Wang Xin)

New figures released by a Hunrun Report shows that there are almost 1.34 million High Net Worth Individuals (HNWI) with a net worth exceeding 10 million yuan ($1.47 million) in the Chinese mainland by the end of May this year, up 10.7% than before.

The data comes from a report entitled "Going Global: Trends of the Chinese HNWI 2016" jointly released by the Hurun Research Institute and China CITIC Bank on Saturday.

According to the study, Beijing witnessed the highest population density of HNWIs, with 1.1 HNWIs in every 100 people. Shanghai ranks second and then northeast China's Jilin Province and east China's Zhejiang Province, reports National Business Daily.

Among those HNWIs, a total of 89,000 are billionaires, reaching a 14.1% growth rate. By the end of 2014, China had a population of around 1.3 billion, which means the number of Chinese HNWIs, billionaires included, account for 0.1%, according to the data from National Bureau of Statistics of the PRC.

As per the report, instead of Beijing, the largest numbers of HNWIs reside in south China's Guangdong Province, reaching 240,000 people. It is followed by Beijing, Shanghai and Zhejiang Province. However, with regards to the population density of HNWIs, Beijing ranks first.

Another highlight of the report is that those HNWIs tend to make a more diversified asset allocation, especially in overseas investment, which is preferred. As the report shows, nearly half of the HNWIs express their willingness to increase their overseas financial allocation, which has accounted for 16% of their investment assets. Further, foreign currency deposits are the most common financial investment strategy chosen among the HNWIs.

According to the Hurun Institution, the newly released white paper on the trends of the Chinese HNWI 2016 was done by giving a one-to-one questionnaire survey of 779 high net worth individuals across 22 provinces and autonomous regions in China.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.