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Wealthy Chinese rise to 1.6 million in past decade, up nearly 9 times - survey

Reuters  |  BEIJING 

BEIJING (Reuters) - The number of high net worth individuals (HNWIs) in China has risen nearly 9 times since a decade ago, a private survey released on Tuesday showed, as strong growth in the world's second-largest economy has spurred wealth creation. Chinese with at least 10 million yuan ($1.47 million) of investable assets hit 1.6 million in 2016, up from 180,000 in 2006, according to the 2017 China Private Wealth Report by Bain Consulting and China Merchants Bank. The overall value of the private wealth market increased to 165 trillion yuan in 2016, growing at 21 percent annually in ...

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First Published: Tue, June 20 2017. 08:36 IST
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