19 July 2019

China super-rich ranks to grow 80% by 2024, paper says

The number of Chinese with more than US$30 million in assets will grow by 80 percent in the next decade, making Beijing and Shanghai two of the most popular locations for luxury property investment, the Global Times reported Monday, citing a report by real estate consultancy Knight Frank LLP. In 2023, China will have 14,213 ultra-wealthy individuals, putting China 13th globally in multimillionaires, the report said.

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