Number of rich Chinese families stays steady as Xi Jinping vows to tackle wealth inequality
- China had 2.06 million families worth more than 10 million yuan (US$1.4 million) last year, up from 2.02 million in 2020, a new survey shows
- The total assets of China’s high-net-worth families rose from 126 trillion yuan in 2020 to 160 trillion yuan in 2021, according to the report
The number of rich families in China remained largely unchanged last year, according to a new report, as Beijing puts greater emphasis on tackling inequality under “common prosperity”.
China had 5 million “affluent” families with net wealth of at least 6 million yuan (US$838,000) in 2021 and 2.06 million “high net wealth” families worth more than 10 million yuan, according to the report published on Sunday by the Hurun Research Institute and Citic Prudential.
Some 130,000 Chinese families had net wealth of at least 100 million yuan, the report said.
The figures represent a marginal change from 2020, when 5.01 million families were recorded with a net worth of more than 6 million yuan, 2.02 million were worth over 10 million yuan and 130,000 families had more than 100 million yuan.
Beijing had the highest concentration of well-off Chinese, with some 298,000 households holding more than 10 million yuan in net wealth.
