|
|
 Email this Page |  Write to us
It's raining millionaires in India
June 26, 2008
China: No 2 millionaire nation
China is ranked second in the growth of millionaires. The millionaire population has advanced by 20.3 per cent in 2007, more than two-and-a-half times greater than its 2006 pace, says the World Wealth Report.
China saw market capitalisation and GDP growth rates zoom last year, at 291 per cent and 11.4 per cent respectively. The Shanghai Exchange grew to be the sixth largest exchange in the world in terms of total market capitalisation.
China's economy still owes its growth to its manufacturing capacity. "This is why its HNWI population growth is slower than that of India - and why the gap continues to widen between China's richest citizens, a group with a particularly high concentration of wealth, and the middle-class, which continues to grow in size but remains largely unable to cross the HNWI threshold," says the Capgemini report.
In 2007, the HNWI growth in China performed better than in 2006 where it saw a 7.8% growth, reflecting strong economic activity and potential for growth.
.
Image: Lights illuminate the Shanghai Exhibition Centre during the 2007 Millionaire Fair.| Photograph: China Photos/Getty Images
Also read: World's 10 most expensive pens
|
|
|
Advertisement
