Number of city's rich still rising
By Lu Nengneng |
May 11, 2012, Friday
|
Print Edition
Print Edition
ONE in every 165 people in Shanghai has more than 10 million yuan (US$1.6 million) in personal assets, according to the Shanghai Wealth Report 2012.
There are more than 140,000 such individuals among the city's 23 million population, accounting for 13.7 percent of the Chinese mainland's high net worth individuals, according to the report issued yesterday by the Hurun Research Institute and independent financial adviser Gao Fu Club.
The figure, as of March 31, is a rise of 6.1 percent from a year earlier, but below the 8.2 percent economic growth rate of Shanghai in 2011. The number of city residents with fortunes of more than 100 million yuan rose 5.1 percent to 8,200, or 12.9 percent of the national total.
Shanghai ranks third, following Beijing and Shenzhen, as a home to the mainland's rich.
The Pudong New Area is the city's richest district, and Changning the richest postcode on the west side of the Huangpu River.
Business owners make up 50 percent of Shanghai's rich. The rest are property investors, 15 percent; professional investors, 20 percent; and high-level senior executives, 15 percent.
Property developers hold a lion's share in Shanghai's ultra-rich club, making up 30 percent of the 82 wealthiest people with more than 2 billion yuan in assets. Manufacturing and finance and investment are other main sources of wealth, accounting for 27 percent and 15 percent respectively. The proportions are all higher than the national level.
Real estate tycoon Eddie Ye, chairman of Super Ocean Group, strengthened his grip on the title of richest native resident with 17 billion yuan, followed by art-collecting couple Liu Yiqian and Wang Wei with 11 billion yuan.
Property giant Rong Zhijian of CITIC Pacific, who lives in Hong Kong, has a 22 billion yuan fortune and is the richest Shanghainese.
Basketball star Yao Ming, 32, is the youngest native self-made billionaire, with 1.2 billion yuan in personal assets.
Feed king and property investor Liu Yonghang and family from Sichuan Province are named the richest city residents from out of town with a 41 billion yuan fortune.
Other Chinese billionaires who had made Shanghai their home include food tycoon Tsai Eng-meng from Taiwan and property moguls Elijah Widjaja from Indonesia and Vincent Loh from Hong Kong.
"Beijing may be the capital of China, but Shanghai is the capital for international Chinese, with more of the top international Chinese entrepreneurs settling here than any other city," said Rupert Hoogewerf, researcher and publisher of the Hurun Report.
There are more than 140,000 such individuals among the city's 23 million population, accounting for 13.7 percent of the Chinese mainland's high net worth individuals, according to the report issued yesterday by the Hurun Research Institute and independent financial adviser Gao Fu Club.
The figure, as of March 31, is a rise of 6.1 percent from a year earlier, but below the 8.2 percent economic growth rate of Shanghai in 2011. The number of city residents with fortunes of more than 100 million yuan rose 5.1 percent to 8,200, or 12.9 percent of the national total.
Shanghai ranks third, following Beijing and Shenzhen, as a home to the mainland's rich.
The Pudong New Area is the city's richest district, and Changning the richest postcode on the west side of the Huangpu River.
Business owners make up 50 percent of Shanghai's rich. The rest are property investors, 15 percent; professional investors, 20 percent; and high-level senior executives, 15 percent.
Property developers hold a lion's share in Shanghai's ultra-rich club, making up 30 percent of the 82 wealthiest people with more than 2 billion yuan in assets. Manufacturing and finance and investment are other main sources of wealth, accounting for 27 percent and 15 percent respectively. The proportions are all higher than the national level.
Real estate tycoon Eddie Ye, chairman of Super Ocean Group, strengthened his grip on the title of richest native resident with 17 billion yuan, followed by art-collecting couple Liu Yiqian and Wang Wei with 11 billion yuan.
Property giant Rong Zhijian of CITIC Pacific, who lives in Hong Kong, has a 22 billion yuan fortune and is the richest Shanghainese.
Basketball star Yao Ming, 32, is the youngest native self-made billionaire, with 1.2 billion yuan in personal assets.
Feed king and property investor Liu Yonghang and family from Sichuan Province are named the richest city residents from out of town with a 41 billion yuan fortune.
Other Chinese billionaires who had made Shanghai their home include food tycoon Tsai Eng-meng from Taiwan and property moguls Elijah Widjaja from Indonesia and Vincent Loh from Hong Kong.
"Beijing may be the capital of China, but Shanghai is the capital for international Chinese, with more of the top international Chinese entrepreneurs settling here than any other city," said Rupert Hoogewerf, researcher and publisher of the Hurun Report.
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