97% of China's richest do charity work: Report

Most of country's wealthiest live in Beijing, Guangdong and Shanghai

Beijing is home to the largest number of the country's wealthiest lot, with 151,000 people owning more than 10 million yuan ($1.46 million) and about 94,000 people with more than 100 million yuan in personal assets, according to a recent report.

The 2010 Hurun Wealth Report, which specializes in tracking the wealthy, said there are 875,000 multimillionaires and 55,000 billionaires in China today, 6.1 percent and 7.8 percent more than last year.