BCG: $$$ Millionaires In China Increased By 49% YOY (2013-2014)

[beijingwalker]

Every person who owns an apartment in first tier Chinese cities is a multi millionaire

 

[Shotgunner51]

The number of multimillionaires who held 10 million HK dollars (about 1.3 million U.S. dollars) or more in liquid asset in Hong Kong stayed at 59,000 in 2016

This report by Citibank measures liquid asset only, not total asset which includes real estate, private equity or any other non-financial asset (real asset).

BCG has a global survey in 2014 (which also excluded real estate, private equity and others). In terms of number of millionaire (dollar) households, Hong Kong ranks world #12 on par with France, ahead of Australia. And when measured in % of population, Hong Kong is as high as 9.4%, ranks world #6.

Number of millionaire households (thousands)

Proportion of millionaire households (%)

 

[Shotgunner51]

Every person who owns an apartment in first tier Chinese cities is a multi millionaire

if u talk about millionaires in RMB, my city will have 10 million millionaires.

Yes if real estate is included. About 90 % of Chinese households own their homes, and 80 % of these homes are owned without mortgages or any other leans. But real estate is excluded in many wealth reports like the Citibank or BCG reports in above posts.