March 31, 2009
300,000 are multimillionaires in China
The number of multimillionaires in China reached nearly 300,000 in 2008 and may grow by another 20,000 this year, a bank report said.
A report released by the China Merchants Bank and consultants at Bain & Co., said the private equity of the 320,000 wealthiest Chinese citizens could top $1.29 trillion by the end of the year, the China Daily reported Tuesday.
The five richest municipalities and provinces are Guangdong, Shanghai, Beijing, Jiangsu and Zhejiang.
The number Chinese multimillionaires is expected to grow 6 percent this year, with their total assets gaining 7 percent from 2008, the newspaper said.