This article is from the public number:Economic Observer (ID: eeo-com-cn) author: Hu group, from the title figure: vision China

In addition to Hong Kong, Macao and Taiwan, the number of “high-net-worth families” with tens of millions of assets in mainland China reached 1.58 million, a decrease of 1.8% over the previous year.The number of “high-net-worth families” with millions of investable assets reached 850,000; the number of “ultra-high-net-worth families” with 100 million yuan of assets reached 105,000.

“As of December 31, 2018, the number of ‘high-net-worth families’ with assets in Greater China reached 1.98 million, a decrease of 30,000 from the previous year, a decrease of 1.5%.”

Recently, CITIC Bank and Hurun Report jointly issued the “Energetic · Mission · Think Change 2019 Decoding China “New Force” White Paper” (hereinafter referred to as ” The White Paper shows that the number of “high-net-worth households” with millions of investable assets reached 1.06 million; the number of “ultra-high-net-worth households” with assets of 100 million yuan reached 127,000, a decrease of 6,000 from the previous year. , a decrease of 4.5%, of which the number of “super high net worth families” with 100 million yuan of investable assets reached 75,000; the number of “international ultra high net worth families” with 30 million US dollars reached 84,000, a decrease of 4,800 from the previous year. The number of “international ultra-high net worth families” with a total investment of 3,000 million US dollars was 5.4 million.

Not only is there a small number of high-net-worth households in Greater China, but the number of high-net-worth households in mainland China is also showing a decreasing trend.

The survey data of Hurun Research Institute shows that in addition to Hong Kong, Macao and Taiwan, the number of “high-net-worth households” with tens of millions of assets in mainland China reached 1.58 million, a decrease of 30,000 from the previous year, a decrease of 1.8%. The number of “high-net-worth households” of Wanke’s investment assets reached 850,000; the number of “ultra-high-net-worth households” with assets of 100 million yuan reached 105,000, a decrease of 5,640 from the previous year, a decrease of 5.1%, of which 100 million yuan could be invested. The number of “ultra-high-net-worth families” of assets reached 62,000; the number of “international ultra-high-net-worth families” with 30 million US dollars reached 69,000, a decrease of 4,425 from the previous year, a decrease of 6%, of which 30 million US dollars could be invested. The number of “international ultra-high net worth families” of assets reached 44,000.

Investable assets are generally personal investment wealth (having better secondary market attributes, assets with certain liquidity) Metrics. Investable assets include personal financial assets and investment properties. Among them, financial assets include cash, deposits, stocks (refers to the listed company’s outstanding shares and non-Circulating shares), bonds, funds, insurance, bank wealth management products, overseas investment and other domestic investments (including trusts, fund accounts, brokerages , private equity funds, private equity funds, gold and internet financial products, etc.); does not include assets such as self-occupied property, non-listed company equity held by private equity investments, and durable consumer goods.

According to the region, Beijing is still the region with the highest net worth of tens of millions of assets and the highest net worth of households with billions of assets, but the number of high-net-worth households in Beijing decreased by 6,000 from the previous year to 28.8. Ten thousand households, a 2% reduction, of which 146,000 high-net-worth households with millions of investable assets; ultra-high-net-worth households reduced 1,000 households from the previous year, reaching 18,900 households, a 5% reduction, of which billions of investment assets The number of ultra-high-net-worth families is 11,200.

Guangdong is the region with the highest net worth of tens of millions of assets and the second highest net worth of households with billions of assets, but the number of high-net-worth households with tens of millions of assets has decreased by 6,000 to 285,000. Households, a decrease of 2.1%, of which there are 162,000 high-net-worth households with millions of investable assets; the number of high-net-worth households with a net asset value of 900 million has decreased by 900 to 16500, a decrease of 5.2%. There are 9,700 ultra-high-net-worth households with investment assets.

Shanghai is the region with the highest net worth of tens of millions of assets and the third highest net worth of households with billions of assets. The number of high-net-worth households with tens of millions of assets has decreased by 5,000 to 249,000 over the previous year. Households, reduced by 2%, of which there are 143,000 high-net-worth households with tens of millions of investable assets; the number of ultra-high-net-worth households with a net asset value has decreased by 900 to 15800, a decrease of 5.4%, of which 10,000 yuan is available. There are 9,300 ultra-high-net-worth households with investment assets.

Others such as Hong Kong, Zhejiang and other regions, the number of high-net-worth families and ultra-high-net-worth families are showing a decreasing trend.

In 2018, 219 entrepreneurs entered the Hurun Report, but the overall ranking was still 11% lower than the 2,130 in 2017. A total of 456 people were on the list. This is the 20-year list released by the Rich List. The largest number of people who dropped the list. In terms of the amount of wealth, the wealth of 796 rich people has shrunk compared to last year, and the wealth of 216 entrepreneurs has not changed.

Why is the number of high net worth families and ultra high net worth families decreasing?

The White Paper believes that stock prices have fallen, assets have shrunk dramatically; companies have expanded blindly, business transformation has failed; leverage has been high, debt problems have become more prominent; corporate actual controller compliance risks have triggered crises, stock prices, credit, operations and other crises; The lack of specialization and systematic wealth management has led some entrepreneurs to rapidly reduce their assets after the company or industry has experienced a decline.

In fact, not only is the number of high-net-worth families and ultra-high-net-worth families in Greater China decreasing, but the wealth of the world’s richest people is also shrinking. UBS (UBS) and PricewaterhouseCoopers(PwC) shows that due to the strength of the US dollar, trade frictions, concerns about slowing economic growth and financial market turmoil, the wealth of billionaires in 2012 decreased by 4.3%. Among them, the total wealth of the Asia-Pacific region fell by 217.6 billion US dollars to 2.5 trillion US dollars. The number of billionaires in the region fell by 7.4% to 754. In particular, China’s billionaires’ net worth fell by 12.3%, and the number of billionaires fell by 48 to 325.

However, this trend is expected to continue in 2019.

The growth rate of China’s economy in the third quarter further slowed down. The actual GDP growth rate was 6.0%, down 0.2 percentage points from the second quarter, setting a new low since 1992. In the first three quarters of 2019, the actual year-on-year growth rate was 6.2%, which was 0.1 percentage points lower than the first half of 2019. KPMG China released the “China Economic Watch” report for the fourth quarter of 2019, showing that China’s economic growth in the fourth quarter is still under great pressure due to factors such as the continued slowdown in global economic growth.

Because 60% of the listed Hurun Report’s entrepreneurs come from the manufacturing, real estate, financial investment and IT industries, especially nearly 30% of the entrepreneurs listed on the list for 15 consecutive years from the real estate industry, the real estate industry market Will affect the wealth of high net worth people.

The senior Chinese economist Li Wei of Standard Chartered Bank believes that for the macroeconomic trend of 2020, the two main risk points cannot be ignored. The first is that the real estate industry may enter the down cycle next year, and the second is to contribute GDP growth of 1.2 this year. % of net exports will face greater pressure next year.


This article is from the public number: economic Observer (ID: eeo-com-cn) , author: Hu group