In 2022, the number of high-net-worth individuals (US dollar millionaires) in Shenzhen reached 45,700, trailing only Beijing (128,200) and Shanghai (127,200) on the Chinese mainland.
In 2022, Hurun Report listed Beijing with the most billionaires at 144 people, followed by Shanghai with 121 billionaires, and Shenzhen in third place with 113 billionaires.
China had around 780,000 millionaires at the end of 2022, the firm estimates, making the country the third wealthiest in the world, behind the U.S. and Japan.
Futian is also one of the most expensive and exclusive districts in Shenzhen. Its pricey and modern apartments are particularly popular with young and single working professionals. While there is a handful of international schools in the area, family-sized apartments in Futian can be exorbitant.
It's where some 113 billionaires live — that's more billion-dollar residents than any city in the US. Once a small farming town, Shenzhen underwent a massive transformation in the last few decades to become one of the most prosperous cities in China.
Beijing. Beijing has 128,200 resident millionaires, 354 centi-millionaires, and 43 billionaires. The official capital city of China, Beijing is the base for many of the world's largest companies. Its billionaire population is particularly high — only New York City and the Bay Area rank higher based on this measure.
Hangzhou in China comes out on top of the list assessing the fastest-growing millionaire hotspots. The report found that between 2012 and 2022, the amount of individuals living there that have over $1 million worth of investable assets has soared by 105%.
It is a common story across Australia's top-tier neighbourhoods. From Toorak and Canterbury in Melbourne to Darling Point and Point Piper in Sydney, wealthy Chinese rank among the country's most prolific buyers of high-end real estate.
Shanghai is China's richest city.
Huaxi Village is known as the "Number One Village Under The Sky". It was founded in 1961. According to the local authorities, all the villagers (but not the much more numerous migrant workers) have a wealth of at least €100,000. This is a substantial amount by Chinese standards.
The most common definition currently seen in China is the scope set by the National Bureau of Statistics (NBS), which defines the “middle-income group” as a typical three-person household that earns between RMB 100,000 to RMB 500,000 (approx. US$14,844 to US$74,221 in 2022) per year.
In Japan you need $1.7 million to make the cut, whereas in mainland China it's $960,000. In the Middle East, the UAE tops the list. You need $1.6 million to be in the country's richest 1%. Brazil tops the list for Latin America, with citizens requiring a relatively low $430,000 to be among its top 1%.
A decade ago, China's citizens were estimated to hold just 9% of the world's wealth. That figure has now more than doubled, while median wealth in the country has skyrocketed from $3,111 to $26,752 between 2000 and 2021.
Summary of cost of living in Shenzhen, China: A family of four estimated monthly costs are 2,280.9$ (16,325.7¥) without rent. A single person estimated monthly costs are 631.0$ (4,516.8¥) without rent. Shenzhen is 59.9% less expensive than New York (without rent).
Forbes' real-time data shows that as of June 2023, there are 48 Australian billionaires on the list of the world's richest people.
Not surprisingly, Shanghai, long known as the “Paris of the East”, has come out on top. There are not only many luxurious shopping centers, but also many luxurious districts in Shanghai. The luxurious district in Waitan, a famous site in Shanghai, is a global first class site.
The number of affluent families in China and their combined wealth has continued to grow despite the Covid-19 pandemic and economic and political uncertainties. About 5.2 million Chinese families had a total wealth of 6 million yuan (US$900,000) or more as of January 2022, up 2.1% year over year.
Currently, 14.1 per cent of Australia's agricultural land is foreign owned, and China is the largest foreign owner (2.3 per cent). China is also the third-largest stakeholder of Australian water behind Canada and the US, owning 604 gigalitres or 1.5 per cent of the total Australian water entitlement.
Chinese and Indian Australians, particularly second and third generation immigrants, are present in large numbers in Sydney and Melbourne, with Chinese Australians constituting Sydney's fourth largest ancestry group.
The US has 9,630 centimillionaires, or people with a net worth of $100 million or higher, and 770 billionaires, according to the firm. Meanwhile, China has 2,250 centimillionaires and 285 billionaires.
Still, home to 470 million females between the ages of 15 and 64, China has 78 “self-made” women billionaires. This is more than double the rest of the world combined, according to the Hurun Richest Self-Made Women in the World 2022. Neighboring India, home to 450 million females in that category, has three.
This statistic illustrates the distribution of adult population in China in 2021 by wealth range group. That year, approximately 15.1 percent of adults in China had wealth of 100,000 to one million U.S. dollars.