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Number of Chinese Millionaires in China Grew by 10.7%
China’s high net worth individuals, or those with more than 10 million yuan grew by 10.7% on the year or roughly 1.34 million people in total. A surge in the property prices in major Chinese cities was identified as one of the main drivers for growth in the Chinese High Net Worth Individuals (HNWIs).
The HNWIs in China is defined as individuals with CNY 10 million of personal wealth or more (equivalent to US$1.6 million).
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