Global EditionASIA 中文双语Français
Home / Business / Macro

China's HNW families' lifestyles revealed in report

By Zhang Jie | | Updated: 2020-11-30 15:58
Share - WeChat
Consumers line at a Cartier store in Shanghai in September. [Photo by Wang Gang/For China Daily]

China has 1.58 million high net worth families with at least 10 million yuan of investable assets in 2020, and the number of ultra high net worth families with at least 100 million yuan of investable assets reached 104,800, according to Hurun China HNWIs Quality of Life Report.

Beijing has the most high net worth families with 288,000, followed by Guangdong province and Shanghai.

Real estate remains the high net worth individuals' first choice for future investment, followed by overseas investments, and respondents will reduce investments in the stock market due to uncertainties, according to the report.

The report said the consumption price for high net worth families increased 3.4 percent year-on-year in 2020, which reversed the downward trend last year. The increasing price of international air tickets, high-end liquor and gold are the main pull factors.

This year, the average annual household expenditure of the respondents was 1.75 million yuan, with 19 percent spent on travel, 18 percent on education, and 16 percent on daily necessities and luxuries.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349