Market Research
Rise In China's UHNW Population Creates Opportunities For Wealth Managers

Mainland China is home to almost 11,500 individuals with at least $30 million in investable assets, amounting to a collective net worth of about $1.65 trillion, a new study by Wealth-X shows.
According to the report, China is seeing new millionaires made every day, although the majority of the country's total wealth still lies in the hands of a few moguls. There are at least 150 billionaires in China, while almost 500 individuals have no less than $500 million. Together, these represent over 40 per cent of the collective net worth of the country's ultra high net worth population.
The continuous rise in wealthy numbers is creating a mine of opportunities for wealth and asset managers worldwide. The study shows that there are 7,500 Mainland Chinese with a net worth of between $30 million and $100 million, creating a collective net worth of no less than $205 billion.
"Firms who are serious about increasing their assets under management should consider aligning their hiring plans with the best locations in the market. Mainland China specifically presents one of the greatest opportunities for wealth managers around the world," said David Friedman, executive vice president for strategy at Wealth-X.
Wealth-X is a member-only wealth intelligence company that assists advisors and bankers working with UHNW clients. The latest report was based on data collected from various government and banking sources, as well as proprietary research and media reports.