China’s Rich Population Tops 875,000

by JIN YINGUANG

Mainland China was home to 875,000 persons possessing at least ¥10 million ($1 = ¥6.8) in wealth last year, up 6.1% on 2008, and the number of those worth ¥100 million rose 7.8% to 55,000, according to the Hurun Fortune List 2010 out Friday. There were 1,900 billionaires and 140 10-billionaires, said the report. The rich benefited from China’s rising stock indices and housing prices. Beijing, Guangdong and Shanghai combined accounted for 48% of the affluent population. The 875,000 were 15 years younger than their foreign counterparts; those worth ¥10 million averaged an age of 39, the 100-millionaires had an average of 43, the billionaires averaged 50 years old and the ¥10 billion level 51. Seventy percent of those on the list were male.

China Perspective

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