adminSHANGHAI. — China’s millionaires, a symbol of the country’s growing wealth, increased at their slowest rate in five years in 2012 as the economy and stock market stumbled, a survey showed.The number of millionaires — defined as those with personal wealth of at least 10 million yuan — rose just 3 percent year-on-year to 1,05 million yuan, said the independent Hurun Research Institute and consultancy GroupM Knowledge.
The number of “super-rich” Chinese — with personal wealth of at least 100 million yuan — went up only 2 percent to 64 500, also the slowest pace in five years, according to the survey released on Wednesday.
The slowdown came as growth in the world’s second largest economy slipped to a 13-year low of 7,8 percent in 2012.
Only a quarter of Chinese millionaires were “very confident” about the domestic economy in the coming two years, the survey showed, down from 28 percent in 2011 and nearly half of those questioned in 2010.
China’s economic growth slipped further to 7,7 percent in the January-March period this year and slowed to 7,5 percent in the second quarter, raising alarm bells over possible deeper weakness.
Beijing, the nation’s capital and political centre, had the highest number of millionaires with 184 000, or 17,5 percent of total, the survey said, ahead of the financial hub Shanghai on 147 000. — AFP.
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