Does China have a lot of millionaires?

According to Credit Suisse estimates, the number of dollar-millionaires residing in China totaled 5.3 million individuals, ranking second after the United States in the world. Although China’s economic growth slowed down considerably over recent years, the number of millionaires still increased constantly.

What percent of Chinese are millionaires?

Countries by number and percentage of millionaires

Country or subnational area Number of millionaires (USD) Percentage of millionaires (USD) (% of adult population)
China * 5,279,467 0.5
Japan * 3,662,407 3.5
Germany * 2,952,710 4.3
United Kingdom * 2,490,952 4.7

How many millionaires are made in China?

Number of millionaires in China from 2015 to 2020

Characteristic Owning six million yuan or above Owning ten million yuan or above
2019 1,576,400 3,922,600
2018 1,605,450 3,872,100
2017 1,469,500 3,620,000
2016 1,340,000 3,380,000

Is the average Chinese wealthy?

In nations where wealth is highly concentrated in a small percentage of people, the mean can be much higher than the median (e.g. the United States).

By country.

Country, region, or subnational area China *
Median 24,067
Mean 67,771
Gini % 70.4
Adults 1,104,956,000

Who has more millionaires US or China?

China was ranked second in that year, with 5.28 million individuals with wealth exceeding one million U.S. dollars.

Characteristic Number of people with a net worth over one million U.S. dollars in thousands
United States 21,951.2
China 5,279.47
Japan 3,662.41
Germany 2,952.71
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Can you be a millionaire in China?

Millionaire demographics in China

Most Chinese millionaires live in the well-developed cities of Eastern China, with Beijing and Shanghai being home to the highest number of wealthy people among cities in mainland China.

What is considered rich in China?

Growth of the Rich in China

By one estimate around six or seven million Chinese, about 5 percent of the population, had assets of $100,000 in the mid 2000s. This is considered rich by Chinese standards. As of 2004, there were an estimated 10,000 Chinese with assets over $10 million.

Does China have the most billionaires?

The US and China have the lion’s share of the world’s richest people, unsurprisingly. But almost every country in the world saw their number of billionaire residents rise this year, according to Forbes’ 2021 Billionaires List.

Who is richest person in China?

The top spot on Hurun’s Rich List belongs to Zhong Shanshan, founder of bottled water company Nongfu Spring, who has a net worth of $60.5 billion. Zhong’s wealth skyrocketed last year when his company raised $1 billion in a Hong Kong IPO last September.