New rich set sights on tech, media and telecom sectors

An increasing number of wealthy people will be attracted to China's technology, media and telecom sectors, according to a report on Wednesday.

Funds available for China's private investors will total 114.5 trillion yuan ($18.46 trillion) at the end of this year, according to the report, released by Forbes magazine and CreditEase Corp.

The report is based on a survey taken from January to March of 1,149 "mass affluent" Chinese, defined as those with funds available to invest of between 600,000 yuan and 6 million yuan. More than 60 percent of them are ages 30 to 49.