China is fourth in global wealthy ranks

China Daily (Canada) - - NEWSCAPSULE -

China is fourth in the global rank­ing of US dol­lar mil­lion­aires fol­low­ing the United States, Ja­pan and Ger­many, which to­gether ac­count for 60 per­cent of global mil­lion­aires, said France-based Capgem­ini and the Royal Bank of Canada.

The num­ber of people with at least $1 mil­lion in liq­uid as­sets in China reached about 750,000, com­pared to 4 mil­lion in the US, Ja­pan’s 2.3 mil­lion and Ger­many’s 1.1 mil­lion, ac­cord­ing to the sur­vey.

China and Ja­pan, the only two Asian coun­tries that made it into the top five, con­trib­ute the most to Asia’s grow­ing wealth pool, which took ex­perts by sur­prise due to the eco­nomic slow­down in both coun­tries.

The re­port said that the Asi­aPa­cific re­gion will re­place North Amer­ica to be­come the world’s largest wealth man­age­ment mar­ket thanks to the boom­ing hous­ing mar­ket in Asia.

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