China will not be just known for the Great Wall alone. In fact, we have found another nickname for the second most powerful economy in the world. Well, it is the land of millionaires. If the Hurun Wealth Report is anything to go by, it claims that China has 875,000 millionaires which is a figure more than USD 1.47 million. It is found that there are 1900 number of people in China with the equivalent of EUR 110 billion. This figure is the double of the number reported by the Hurun Wealth Report last year.
This phenomenon reflect a social shifting. There is a hidden class of low-key rich in China who like to keep a low profile. Another interesting thing that the report tells us is that the average age of China’s wealthy is 39 years, which is 15 years youngers than their counterparts in other countries.
The luxury posessions include watches, Chinese classical art and 3 cars on an average. The leisure activities too are bountiful – travel, golf, swimming are habitual. Most of the Chinese millionaires are averse to smoking and drinking. They like their kids to go to a British school for secondary schooling while it is the USA that attracts the university students.