Chinese Affluent Increase 20% Last Year

The Asia Pacific Wealth Report jointly published by Lin and Kai Jie yesterday showed that by the end of 2007, China had 415 thousand wealthy people, an increase of 20.3% over 2006.

Wealthy individuals refer to individuals who own assets of more than $1 million, which do not include self occupied real estate.

China is the center of the second largest wealthy people in the Asia Pacific region, and 14.8% of the population of the rich people in the area.

The average assets of the Chinese affluent have reached US $5 million 100 thousand.

Last year, China became the first country in the Asia Pacific region to have the largest number of super rich people.

The super rich have more than 30 million dollars in assets and 6038 in China.

Liu Changxin, senior executive marketing manager of Meilin global wealth management Greater China, said last year that China's economy was developing rapidly, the stock market value soared, and the rich people's wealth and wealth continued to increase.

Starting from the second half of last year, wealthy people in the Asia Pacific region preferred more conservative investments in the economic uncertainty. Cash, deposits and fixed income securities accounted for 46% of the financial assets of the affluent in the Asia Pacific region last year, an increase of 7 percentage points from 2006.

The report indicates that the total assets of the affluent in the Asia Pacific region are expected to grow at an annual rate of 7.9%, slightly higher than 7.7% of the world's expected growth rate.

The Asia Pacific region is expected to take the place of Europe and become the richest place for the world's second richest people.