Where are Chinese millionaires
The number of Chinese millionaires is really rising which has totalled 2.7 million dollar millionaires in China. Their consumption has influenced many markets in China such as tourism, luxury and wine. As a result, businessmen pay more attention to this group of consumers.
The “Chinese Dream” is a growing phenomenon, they (the new rich) were like everybody in 1990s, and in less than 20 years, have accumulated a huge fortune, built empires and fascinate many Western companies.
Difference between millionaires and “super-rich”
In this article, the super-rich can be assimilated to billionaires. They are much richer than the millionaires and of course their number is much lower…
Where the Chinese millionaires live?
They are also located in most major Chinese cities but live mainly in:
1 / Beijing
2 / Guangdong (Shenzhen or Guangzhou)
3 / Shanghai.
4 / Zhejiang
Millionaires in Beijing, Guangdong and Shanghai accounted for almost half of the total dollar millionaires (47.6%).
Green: they are entrepreneurs; they represent 30% of Chinese millionaires,
Blue: they are leaders of groups: 30% of the population of millionaires,
Pink: They are investors / shareholders 20% of millionaires
Orange: Real estate investors, who are also an estimated 20% of the population of the super-rich Chinese.
We can see most rich people prefer staying in cities rather than rural area. A very important reason for that is the rural life is too poor and inconvenient for them.
Where the “super rich” Chinese live?
Super riches are those who have an estimated fortune of over 100 million RMB.75% of the are Businessmen or entrepreneurs and 15% of them have made a fortune in real estate.
We counted 63,500 “super-rich” in China (CNY 100 million or $ 15.8 million) nobody knows the real number is probably twice or three times more than the official number.