(ECNS) -- China is expected to boast 15.28 million affluent people by the end of this year, an increase of 10 percent compared with last year, according to a recent report by Forbes China and CreditEase, a Beijing-based wealth management company.
At the end of 2014, the mass affluent population numbered 13.88 million, up 15.9 percent from a year earlier, due to increased wages and wealth management efforts, according to the Chinese Mass Affluent Report 2015, which was released in Qingdao, East China's Shandong province last week.
Mass affluent people are defined as those with investible assets, including cash, stocks and mutual funds, of between 600,000 yuan ($96,500) and six million yuan at the end of the year.
The report predicts that investible assets owned by the Chinese affluent population will increase by 7.8 percent this year to reach 114.5 trillion yuan.
