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Children of Chinese billionaires may inherit wealth in next decade
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  • http://english.dbw.cn  2016-12-06 10:06:44
     

    At least half of Chinese billionaires are set to pass their wealth onto their children in the next decade, according to a Hurun report released on Deceber 2, 2016. [Photo: qoofan.com]

    At least half of Chinese billionaires (measured in yuan, or 145.2 million USD) will start to pass their wealth onto their children in the next decade, says Hurun, after releasing a special report on wealth inheritance during the past weekend.

    The report provides information about the development potential of Chinese family businesses, among other things.

    According to the report, China will have 9,500 billionaires and 89,000 people whose assets reach more than 100 million yuan (14.5 million USD) by the end of 2016. On average, Chinese billionaires are aged 50 with their children mostly aged around 20 years.

    The report also shows that wealth in the Chinese mainland starts to be passed down to the next generation at the average age of 75, but for the Chinese billionaires, half of them will pass their inheritance when they are on average 50-60 years.

    Three quarters of Chinese billionaires are private business owners, 15% real estate investors and 10% professional stock market investors.

    Beijing has the highest number of billionaires with 15,600 people occupying 17% percent of the total, followed by Shandong Province with 16% percent and Shanghai with 14%.

    The Hurun Research Institute has predicted that in the next five years, the number of billionaires in the Chinese mainland could reach 110,000, and the number of people with an asset of 1 billion USD could increase to 1,400.The latest report was released by Hurun Research Institute and Haiyin Wealth, a wealth management firm headquartered in Shanghai.

    Author:    Source:CRI    Editor:Yang Fan

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