china wealthy iphone

Photo: Getty Images

Hurun Report and GroupM, a Chinese think tank, just released a report analysing millionaires across China.The most interesting findings:

  • There are 1.02 millionaires across mainland China, an increase of 6.3 per cent over the previous year. The report also estimates that for every “known” millionaire, another two exist under the radar. Beijing is home to the highest number of wealthy individuals, with 179,000 millionaires and 10,500 super-rich (worth $16 million or more).
  • The average Chinese millionaire is 39 years old, and 60 per cent of them are male. They have, on average, two private bank accounts, three cars, and 4.2 luxury watches. They spend eight days a month on business trips and go on three international trips per year.
  • 50 per cent of Chinese millionaires are business owners, 20 per cent are professional investors, and 15 per cent each are real estate investors and high-level senior executives.
  • Golf is the most popular sport among Chinese millionaires, followed closely by swimming. Among Chinese billionaires, horseback riding is becoming increasingly popular.
  • More than 85 per cent of millionaires plan to send their children abroad for education. Schools in the US, UK, and Canada are most desirable.
  • 63 per cent of Chinese millionaires own an iPad, up 4 per cent from last year. They are more popular than iPhones among millionaires.
  • Among Chinese millionaires, the most popular collectible is watches. They own an average of 4.2 watches, while the super-rich own, on average, 5.6 watches. The second most popular collectible is Chinese traditional calligraphy and paintings.

And a breakdown of China’s rich and super-rich, by region:

china rich breakdown

Photo: Hurun Report/GroupM

china rich breakdown

Photo: Hurun Report/GroupM

DON’T MISS: 13 Fascinating Facts About China’s Millionaires >

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