Hurun and Group M joined up to release this Chinese Millionaire report. Some great insights inside, including:
- The average age of the super rich (net worth > 100 million RMB) is 43 years. These super rich tend to own three properties, five luxury watches and four cars. There has been a surge of interest in drinking fine wines and collecting art, especially Chinese classical art. This year they are looking to add a holiday home, with Sanya their destination of choice.
- 70% of Chinese millionaires use Weibo
- Watches and jewelry are by far the most popular collectables among Chinese millionaires. Ancient calligraphy and painting comes a distant second. Of note is an increase in wine collection this year.
- The Chinese millionaire has 3.3 cars and 3.7 watches on average, while the multimillionaire has 3.9 cars and
4.6 watches on average
Also of note is the fact that the known wealth in China is very difficult to track, as most of it is hidden.
Download the report here: