Billionaires to burgeon in China

China will become the biggest generator of billionaires during the next decade, with a survey estimating that 154 new billionaires will emerge in the country.

In the next 10 years, China will account for two-thirds of the top 30 billionaire-producing cities in the world, according to Wealth Report 2015, which was jointly released by real estate consultancy Knight Frank and Bank of China International on Tuesday.

The report tracks the growing number of the super-rich in 108 cities in 97 countries, which finds that Asia overtook North America to be the second-largest region in terms of the increase in ultra-high net worth individuals in 2014.