China has 340,000 millionaires

16:56, April 01, 2010      

Email | Print | Subscribe | Comments | Forum 

China had 340-thousand millionaires in 2009, the fourth highest number in the world in spite of an 11 percent decrease from the year before, according to the 2010 edition of "The Wealth Report" released by Citi Private Bank.

Investible assets of each person in this group, called the High-Net-Worth Individuals (HNWI), total between $1m and $10m, excluding their principal residence.

The survey of global wealth distribution saw a sharp drop in the number of HNWIs as few corners of the world were left untouched by net asset value erosion.

The United States still holds the largest number of HNWIs, standing at 2,519,000, but that figure has dropped 19 percent following the economic downturn.

Next are Japan and Britain, who have 669,000 and 439,000 people included respectively.

Among the world's major economies, India and Portugal saw their number of wealthy people most reduced, by 24 percent each, while Hong Kong, Belgium and Russia saw a reduction of around 20 percent.

Although no economy has seen an increase in the number of millionaires, the report says the fact that asset prices have recovered strongly since mid-2009 means the numbers are expected to recover relatively rapidly.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • ATP top 1 and UNICEF National Ambassador for Serbia Novak Djokovic plays with children at kindergarten "Brownie" in Smederevo, central Serbia, on Sept. 26, 2011. The kindergarten is specialized for children with disabilities and refugees. Djokovic was appointed as a UNICEF National Ambassador for Serbia last August. (Xinhua/Vladimir Gogic)
  • Photo taken on Sept. 26, 2011 shows the Shundang Caifeng Bridge in Yunlong County of Dali Bai Autonomous Prefecture, southwest China's Yunnan Province. The Shundang Caifeng bridge, a wooden cantilever bridge of almost 400 years, is still used for transportation and tourism. Across the rivers of Dali Bai Autonomous Prefecture stand many bridges with antique flavour, attracting a lot of tourists. (Xinhua/Chen Haining)
  • Photo taken on Sept. 26, 2011 shows the exterior view of the Mali Hospital in Bamako, Mali. The Mali Hospital, built with Chinese aid, officially opened on Monday. (Xinhua/Wang Zizheng)
  • Participants have a group photo taken at the World Media Summit Presidium Meeting in Beijing, capital of China, Sept. 27, 2011. Leaders or representatives of 11 world mainstream media attended the meeting opening on Tuesday. (Xinhua/Li Tao)
  • Boeing employees view a 787 Dreamliner scheduled for delivery to All Nippon Airways (ANA) of Japan during a delivery ceremony at Paine Field in Everett, Washington September 26, 2011. (Xinhua/AFP Photo)
Hot Forum Discussion