This is Shenzhen. 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.
Shanghai – China's financial centre
Widely regarded as the financial capital of China, Shanghai is home to 127,200 millionaires, 332 centi-millionaires, and 40 billionaires.
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 $1 million worth of investable assets has soared by 105%.
The city became China's first Special Economic Zone in 1980. This meant tax exemptions, land subsidies and more control in operating private businesses, which led to several companies – and entrepreneurs – becoming billion-dollar rich.
In 2022, the number of high-net-worth individuals (US dollar millionaires) in Shenzhen reached 45,700, trailing only Beijing (128,200) and Shanghai (127,200) on the Chinese mainland. Though Hong Kong's millionaire population was higher at 129,500, it is shrinking fast (Shenzhen, by contrast, is surging).
Shenzhen is best-known for the luxurious, quiet private beach experiences at, Sheraton Dameisha Resort also which are the tourist hubs, especially in summers. You must not miss these famous beauty centres which are dazzling with golden sand and crystal shiny blue water of the sea.
Futian is also one of the most expensive and exclusive districts in Shenzhen. Its pricey and modern apartments are particularly popular with young and single working professionals. While there is a handful of international schools in the area, family-sized apartments in Futian can be exorbitant.
A family of four estimated monthly costs are 2,297.9$ (16,457.4¥) without rent. A single person estimated monthly costs are 635.1$ (4,548.4¥) without rent. Shenzhen is 59.0% less expensive than New York (without rent). Rent in Shenzhen is, on average, 79.4% lower than in New York.
Guizhou has the largest poverty population, with 2.95 million. Xinjiang has the highest poverty rate, which is 9.9 per cent. Gansu, Guizhou, Tibet and Yunnan also have a poverty rate above 7 per cent.
The annual average wage of a typical Chinese employee is around 352,000 Yuan (USD 50,629).
As the capital and cultural center of China, Beijing is the most popular place for celebrities to set up home. There are constant reports from netizens about famous people spotted on the streets, in restaurants and in shopping malls. Below are the famous faces living in Beijing you might spot on your travels.
Meanwhile, an annual income of $91,639 puts you in the top 1% in China, while you need to make more than $506,000 to be in the top 1% in the U.S. This shows that most of the Chinese wealth has come from increasing home values.
The Forbidden City served as the home of Chinese emperors and their households and was the ceremonial and political center of the Chinese government for over 500 years.
There are 113 billionaires in Shenzhen, compared with 110 in New York, while London came in fifth with 101. The growing concentration of wealth isn't news to people in Shenzhen, which added eight billionaires since last year.
With a population of over 20 million, Shanghai rivals the largest cities in the world for size and prosperity, and the Shanghainese are proud of it. Shanghai is the showcase for China's economic success.
Futian District, the richest district in Shenzhen, China, can top two Hangzhou and eight Xiamen. #scenery #trip #highway #Totinos425 #city.
IN 2019, A COLD, sleepy mining town called Hegang went viral for having the lowest house prices of any big city in China. Blog posts boasted of sizeable apartments costing as little as 46,000 yuan ($6,700).
According to a report by the World Bank published in 2009, 99% of the poor in China come from rural areas if migrant workers in cities are included in the rural population figures. Excluding migrant workers from the rural population figures indicates that 90% of poverty in China is still rural.
Shenzhen is cheaper than Shanghai. Costs have been skyrocketing across China, with rents doubling or tripling in the years I've been here. Yet I think for the same living standard and central location in Shenzhen, you'd pay much more in Shanghai. Of course this main cost is rent.
Baishizhou is the largest urban village in Shenzhen, with all the characteristics one could imagine of a slum — dark and narrow alleys, messy electric cables, damp air, and disorganized communities suffering from poverty.
Shenzhen, once known for spewing out dark clouds of toxic smoke, has done much to clean up and transformed into China's most sustainable city, according to several research reports.
Outlandish as it may seem, the lavish spending has become commonplace within the inner circles of Sydney's community of wealthy Chinese. Billionaires from mainland China, Hong Kong and Singapore, along with homegrown Asian tycoons, have turned the Harbour City into their playground.
Shenzhen is China's coolest, cleanest and most livable city. In 2019, Lonely Planet ranked Shenzhen as second in the world in the list of top 10 cities to visit. Shenzhen has a slightly higher cost of living than most cities in China but it is cheaper than 67% of cities in the world.
foreign investors with activities in China are now allowed to purchase a property designated as a housing unit; foreigners must live in China for at least one year before purchasing a property.