Wealth distribution getting more even

As the number of high-net-worth individuals (HNWIs) on the Chinese mainland is growing rapidly, distribution of wealthy individuals is becoming more geographically balanced, expanding from coastal cities to central and western regions, thanks to the mainland's industrial upgrading.

"The shift is in tandem with a more holistic, balanced industrial development across the mainland ... we have also seen a significant private wealth growth in the Belt and Road regions, as preferential policies and resources are swinging in to support the regions' growth," said Kevin Huang Yanjun, head of global private banking at China Merchants Bank.

The number of mainland HNWIs - those with investable assets of more than 10 million yuan ($1.5 million) - reached 1.58 million last year, a 23 percent compound annual growth rate from 2014. Average investible assets per capita among HNWIs also grew to 30 million yuan, according to the 2017 China Private Wealth Report published by CMB and consulting firm Bain.