Millionaires in China to nearly double by 2025: Credit Suisse
The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.
Mainland China is projected to nearly double its number of high-net-worth individuals in the coming five years, giving rise to demand for private wealth and family office services in the Asia Pacific region.
Ranked second globally in terms of the number of millionaires behind the US, mainland China had 5.3 million millionaires in 2020, accounting for 9.4% of the world’s total, according to the Credit Suisse Global Wealth Report 2021 released on Tuesday (June 22).
By 2025, that n…
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