Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>China Business

Julius Baer eyes rising millionaires

By Lydia Chen (Shanghai Daily)

10:52, December 01, 2011

Swiss private bank Julius Baer aims to open a representative office in Shanghai to tap China's growing number of millionaires which are set to hold more than half of the region's wealth by 2015, its Asia head said yesterday.

Its plan for the local office marks its ambition to establish a brand within the mainland market where it predicted in an earlier report that the number of millionaires in the world's second-largest economy will account for about half of Asia's rich and hold over 50 percent of the region's wealth by 2015.

Asia's millionaires will more than double in number to 2.8 million, with 1.4 million high net worth people in China, according to the bank's Asia Wealth Report released in September.

Chinese millionaires will hold US$8.76 trillion of the US$15.81 trillion that the region's millionaires are expected to have, according to the bank report.

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Medvedev, Putin meet supporters in Moscow

  2. Oh deer, I think I love you

  3. Beijing experiences its 1st snow this winter

  4. Black-headed gulls migrate from Siberia to China's Kunming

Most Popular

Opinions

  1. Why is China's financial sector going global?
  2. World needs safety net against euro crisis
  3. US-Pakistan anti-terrorism coalition close to collapse
  4. China's schools on the way up
  5. What is to be done with Syria?
  6. UK mass strike shows steep learning curve
  7. China-Myanmar ties challenged by US moves
  8. China and India mustn't go for the throat
  9. Germany needs wisdom to save euro
  10. Egypt's chaos: No end in sight

What's happening in China

Full of the joys of life in prison

  1. Beijing revising housing rules
  2. Hospital head dismissed over baby scandal
  3. Injured in stable condition after blast kills two
  4. Yachting sector surfing a wave of high interest
  5. 6 schoolchildren hurt in minibus rollover accident

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival