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Chinese billionaires' wealth growth to slow down this year, shows survey

The report forecasts a slower growth pace this year, but still sees substantial gains

Reuters  |  Beijing 

The ranks of China's wealthy will again grow by double-digits this year but industry expansion will cool as economic growth slows and government oversight of financial products increases, a report said on Tuesday. The 2017 China Private Wealth Report, by Bain Consulting and China Merchants Bank, put the number of high net worth individuals (HNWI)- with at least 10 million yuan ($1.47 million) of investable assets - at 1.6 million in 2016, nearly nine times the number a decade earlier. The report, issued every two years, forecasts a slower growth pace for the wealth business ...

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First Published: Tue, June 20 2017. 19:19 IST