15 February 2019

China to overtake Japan in household wealth by 2016, paper says

China is likely to surpass Japan by 2016 as the world’s second richest country after the United States in terms of total household wealth, the Economic Information Daily said Thursday, citing an annual report on global wealth published by Credit Suisse Research Institute on Wednesday. Household wealth in China grew 6.7 percent over the past year to US$22.2 trillion, making it the world’s third richest nation after the US and Japan, the report said. Growth in China’s household wealth over the next five years is expected to account for half the US$93 trillion increase in global wealth by 2018, it added.

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