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Mainland's wealthiest set to get richer
By Feng Jianmin |
00:37 UTC+8 September 25, 2012
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Print Edition
Print Edition
The wealthiest individuals on Chinese mainland could account for more than half the total wealth of Asia's richest people given a positive economic performance over the next few years, according to a report by the Julius Baer Group.
The number of high-net-worth individuals, or people with investable assets of US$1 million or more, could almost triple to 3 million in 2015 from 1.16 million in 2010 given favorable economic conditions, the private bank said yesterday. By then, Asia's richest people as a whole would be worth around US$16.7 trillion.
"China has the largest increase in number of high-net-worth individuals to 1.46 million and a wealth stock of US$9.3 trillion in the 'upside' scenario," it said.
In a "downside scenario," Asia will still have 2.65 million wealthy individuals with a stock of US$14.7 trillion.
The number of high-net-worth individuals, or people with investable assets of US$1 million or more, could almost triple to 3 million in 2015 from 1.16 million in 2010 given favorable economic conditions, the private bank said yesterday. By then, Asia's richest people as a whole would be worth around US$16.7 trillion.
"China has the largest increase in number of high-net-worth individuals to 1.46 million and a wealth stock of US$9.3 trillion in the 'upside' scenario," it said.
In a "downside scenario," Asia will still have 2.65 million wealthy individuals with a stock of US$14.7 trillion.
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