The more than 4 million Chinese families with million dollar assets in 2008 will reach 7.8 million in 2013, according to a new report by Boston Consulting Group (BCG) published recently.

However, the regional concentration of these rich families can be obviously seen. More than half of these million dollar asset families are concentrated in 6 regions including Guangdong, Shanghai, Zhejiang, Beijing, Jiangsu and Shandong.

The report also said that the U.S. had the most million dollar asset families at the end of 2008. It was follow by Japan, China, Germany and the UK.

Liang Guoquan, partner and manager director of the Greater China Region of BCG, said that strong economic growth, raising income level and high saving rates will quickly create sustainable fortunes.

via 4 mln Chinese families own million dollar assets – People’s Daily Online.

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This entry was tagged as Beijing, China, consumer behavior, Economic Development, Germany, Guangdong, Guangdong Province, income, Japan, Jiangsu, Nouveau riche, Shandong, Shanghai, United Kingdom, United States, USD, Yangtze River Delta, Zhejiang