05-22-2011, 08:46 PM
|
|
|
The People's Post
Industry Role:
Join Date: Dec 2008
Location: invisible 7-11
Posts: 66,887
|
i'm not sure it's valid to say most of the wealthy chinese are new money when even the experts state tracking that cash is very difficult. experts also state the rise in wealth is due to a fast growing gdp and real estate, not working smarter not harder.
Quote:
According to the latest data, China has 960,000 individuals with personal wealth of 10 million yuan (USD1.5m) – this number has increased by almost 10 per cent compared to 2010. At the same time, China has 60,000 super-rich individuals with 100 million yuan (USD15m) or more, which is nine per cent more than last year. They are considered to be the main luxury consumers and have been nicknamed the “Lion Kings of China”.
For a decade, experts have been observing a tendency for steady growth of the “burgeoning wealthy elite” in the country. Furthermore, not all the funds can be easily investigated. “There is still a great deal of hidden wealth in the Chinese economy,” said Rupert Hoogewerf, the CEO and chief researcher of the Hurun Report. The concept of Chinese wealth can be visualised as an iceberg with a huge part of it hidden under the water. The Hurun experts estimate that only a third of the potential 4,000 Renminbi billionaires in China are mentioned by the Hurun Rich List.
The facilitating factors for the phenomenal growth in the number of Chinese millionaires are, among others, fast-growing GDP and rising property prices.
|
|
|
|