Arab Today, arab today fewer chinese millionaires as economy slows
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Number of "super-rich" Chinese climbs only 2%

Fewer Chinese millionaires as economy slows

Arab Today, arab today

Arab Today, arab today Fewer Chinese millionaires as economy slows

A crowd gathers to admire a gold-plated luxury sports car in Nanjing, east China
London – Arab Today

A crowd gathers to admire a gold-plated luxury sports car in Nanjing, east China London – Arab Today China\'s millionaires, a symbol of the country\'s growing wealth, increased at their slowest rate in five years in 2012 as the economy and stock market stumbled, a survey showed. The number of millionaires -- defined as those with personal wealth of at least 10 million yuan ($1.6 million) -- rose just three percent year-on-year to 1.05 million, said the independent Hurun Research Institute and consultancy GroupM Knowledge.
The number of \"super-rich\" Chinese -- with personal wealth of at least 100 million yuan -- went up only two percent to 64,500, also the slowest pace in five years, according to the survey released on Wednesday.
The slowdown came as growth in the world\'s second largest economy slipped to a 13-year low of 7.8 percent in 2012.
Only a quarter of Chinese millionaires were \"very confident\" about the domestic economy in the coming two years, the survey showed, down from 28 percent in 2011 and nearly half of those questioned in 2010.
China\'s economic growth slipped further to 7.7 percent in the January-March period this year and slowed to 7.5 percent in the second quarter, raising alarm bells over possible deeper weakness.
Beijing, the nation\'s capital and political centre, had the highest number of millionaires with 184,000, or 17.5 percent of total, the survey said, ahead of the financial hub Shanghai on 147,000.
Stock market sluggishness also contributed to the slower growth of the wealthy population, with the Shanghai exchange\'s benchmark index gaining only 3.17 percent last year.
About 15 percent -- 160,000 -- of Chinese millionaires named stock investments as their main source of wealth, down five percent from 2011, according to the survey.
Real estate remained Chinese millionaires\' top investment choice despite government regulations aimed at cooling the market, the survey said, but they had a growing tendency to seek such investments overseas.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fewer chinese millionaires as economy slows Arab Today, arab today fewer chinese millionaires as economy slows

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fewer chinese millionaires as economy slows Arab Today, arab today fewer chinese millionaires as economy slows

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday