Date
17 December 2017
The ranks of Chinese individuals with more than 10 million yuan (US$1.6 million) in net assets rose 3.8 percent to 1.09 million as of the end of 2013, compared with a year earlier. Photo: Baidu
The ranks of Chinese individuals with more than 10 million yuan (US$1.6 million) in net assets rose 3.8 percent to 1.09 million as of the end of 2013, compared with a year earlier. Photo: Baidu

There are over a million multimillionaires in China: Hurun

Mainland China has 1.09 million multimillionaires as of the end of 2013, Ming Pao Daily reported Friday, citing the latest data released by Hurun.

The ranks of Chinese individuals with more than 10 million yuan (US$1.6 million) in net assets rose 3.8 percent from a year earlier.

Of this number, 8,300 are billionaires and 300 has at least 10 billion in assets, according to the report.

Rising property prices and a fast-growing economy were key drivers for the growth in the number of Chinese multimillionairesin 2013.

Beijing is home to the greatest number of wealthy people, taking up 17.6 percent, while Guangdong province and Shanghai followed with 16.5 percent and 14.6 percent respectively.

More than half of the wealthy people were entrepreneurs, health is their biggest concern, most of them work overtime or stay up late, which sometimes results in health problems such as insomnia and dizziness, the report said.

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