China Daily ( was originally posted: 21-Nov-2019) | 22-Jun-2020
The Hurun Research Institute released the Hurun Wealth Report 2019 in Shanghai on Tuesday, which provided a detailed analysis of “rich families”, “high net-worth families” and their geographical distribution in China. This is the 11th consecutive year in which Hurun has released the report.
A “rich family” is defined as a family with a net worth of more than 6 million yuan ($853,711), while a “high net-worth family” has a net worth of at least 10 million yuan. Let’s take a look at the top 10 cities for China’s “rich families”. (Photo/China Daily)
As per the report, the wealth of the “rich families” in China totaled 128 trillion yuan, 1.3 times as much as the yearly GDP of this area. Wealth from the Chinese mainland accounts for 80 percent. As of Dec 31, 2018, the number of rich families in China had reached 4.94 million, up 60,000 from the previous year. And the number in the Chinese mainland had reached 3.92 million.
The top 10 cities for China’s “rich families”:
No 10: Tianjin. Number of families: 64,100
No 9: Taipei. Number of families: 69,600
No 8: Foshan. Number of families: 73,000
No 7: Ningbo. Number of families: 95,900
No 6: Hangzhou. Number of families: 124,100
No 5: Guangzhou. Number of families: 162,000
No 4: Shenzhen. Number of families: 170,000
No 3: Hong Kong. Number of families: 551,000
No 2: Shanghai. Number of families: 602,000
No 1: Beijing. Number of families: 704,000
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