China’s rich building wealth in property
December 24th, 2011 - 8:25 pm ICT by IANSBeijing, Dec 24 (IANS) Fourteen percent of rich Chinese families whose investments in assets top six million yuan (about $946,700) depend on the real estate industry as their major source of income, the 2011 China Wealth Market Report said Saturday.
Nearly 60 percent of rich Chinese families are private business owners, while 12 percent became millionaires by investing in the financial market and 10 percent accumulated their fortune through salaries, with the other five percent inheriting their wealth, China Daily reported quoting the report.
The number of rich Chinese families is growing rapidly in provinces like Shanxi, Hainan, Anhui and Guizhou, the daily said.
Individual investment in assets is expected to hit 62 trillion yuan this year and 1.21 million Chinese families will have over 6 million yuan worth of investment assets.
- China's super-rich to get richer - May 08, 2012
- China had 535,000 millionaires in 2010 - Oct 13, 2011
- Man denies spending $11m on wedding - Apr 06, 2012
- China home to 383,000 super rich in 2010 - Dec 29, 2010
- China has 960,000 millionaires and still counting... - Apr 13, 2011
- Rich Chinese invest abroad, keen to emigrate - Apr 22, 2011
- Wealth divide gets wider in China - Dec 03, 2010
- Rich get richer in China - Mar 28, 2012
- Indian millionaires will see wealth grow fastest over next decade - Aug 17, 2011
- China boasts 3rd-largest population of millionaires in the world - Dec 03, 2010
- Cut veg, cook food, says Chinese man's pre-nuptial pact - Sep 27, 2010
- 60-year-old 'stud' in pregnancy trouble! - Mar 21, 2012
- 60,000 Chinese hold assets worth 100 mn yuan - Jul 20, 2012
- 72 Chinese millionaires had premature deaths - Jul 24, 2011
- Shanghai - a city with 132,000 millionaires - May 13, 2011
Tags: 6 million, anhui, beijing, building wealth, china daily, chinese families, dec 24, fortune, investment assets, investments, millionaires, private business owners, real estate, salaries, trillion, yuan