The number of Chinese multimillionaires has increased by 130,000 over the past year, according to a new report, Going Global: Trends of Chinese High Net Worth Individuals 2016, released by the Hurun Research Institute and China CITIC Bank Private Banking.
Guangdong province, with 240,000 people whose assets are worth more than 10 million yuan, became the place with the most multimillionaires this year, followed by Beijing, Shanghai and Zhejiang province.
The report shows that as of May 2016, there were 1.34 million multimillionaires in the Chinese mainland, 10.7 percent more than last year. Of these, 89,000 are billionaires, up 14.1 percent from last year.
Let’s take a look at the top 10 regions with the most millionaires in China.
No 10 Tianjin 23,600
No 9 Liaoning province 32,000
No 8 Sichuan province 32,400
No 7 Shandong province 46,900
No 6 Fujian province 48,000
No 5 Jiangsu province 98,000
No 4 Zhejiang province 160,000
No 3 Shanghai 205,000
No 2 Beijing 238,000
No 1 Guangdong province 240,000