Beijing, March 28 (IANS) The number of Chinese billionaires and millionaires is reaching a new peak, and their mode of consumption is also evolving, China Daily reported Wednesday.
The Chinese Luxury Consumer White Paper 2012 suggested that there were 2.7 million high net worth individuals in China with personal assets of more than 6 million yuan ($950,000).
Six in 10 were male, with an average age of 39, it quoted new research as saying.
There are 63,500 ultra-high net worth individuals with assets of more than 100 million yuan, an increase of 10 percent compared with last year.
Eight in 10 were male, with an average age of 41.
The report, focusing on private banking in China and the evolving lifestyle of the Chinese luxury consumers, was released by Industrial Bank Co Ltd and the Hurun Report Research Institute.
Real estate and stocks remained the two most popular investment choices for the wealthy. But they were also investing more in art and unlisted companies, the report said.
