China households see wealth increase
The total household investable assets in China are set to amount to 110 trillion yuan (US$17.2 trillion) by the end of this year after having grown at a compound annual rate of 21 percent since 2013, a report said.
The number of high net-worth households, referring to those with investable assets of more than 6 million yuan, has grown at a compound annual rate of 30 percent in the past three years and is set to hit 2.01 million by the end of 2015, according to a report on private wealth management which was jointly released by the Boston Consulting Group and the Industrial Bank yesterday.
High net-worth households will account for 41 percent of the total private wealth by the end of this year, said the report.
“Rapid economic growth, demographic bonus and a fast developing capital market contributed to the high speed of private wealth accumulation,” said the report.
Household wealth comprises mainly savings and cash, which will account for 50.9 percent of the total in 2015, down from 64.1 percent in 2013, said the report.
Wealth-management products come in second as they are becoming increasingly popular among investors, taking up 18.2 percent of household wealth in 2015, an increase from 12.9 percent in 2013.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.