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China 2013 Wealth Book

WealthInsight
Published Date » 2013-10-31
No. Of Pages » 110

Synopsis

  • This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in China.
  • The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country’s HNWIs have performed through the crisis.

Summary

There are 1.4 million HNWIs  and  9,087 UHNWIs  in China  in 2012. This report reviews the performance and asset allocations of HNWIs and Ultra HNWIs in Peru highlights top-performing cities. It also includes an evaluation of the local wealth management market.  

Scope

  • Independent market sizing of China HNWIs across five wealth bands
  • HNWI volume, wealth and allocation trends from 2008 to 2012
  • HNWI volume, wealth and allocation forecasts to 2017
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Geographical breakdown of all foreign assets
  • Alternative breakdown of liquid vs. investable assets
  • Number of UHNWIs in major cities
  • Number of wealth managers in each city
  • City wise ratings of wealth management saturation and potential
  • Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in China.
  • Size of China's wealth management industry
  • Largest domestic private banks by AuM
  • Detailed wealth management and family office information
  • Insights into the drivers of HNWI wealth.

Reasons To Buy

  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
  • Report includes comprehensive forecasts to 2017.
  • Also provides detailed information on UHNWIs in each major city.

Key Highlights

  • There were just over 1.4 million HNWIs in China in 2012, holding US$5.2 trillion in wealth, equivalent to 27% of country’s total individual wealth. 
  • The number of HNWIs in China increased by around 89.9% during the review period from 779,896 HNWIs in 2008 to 1,481,363 HNWIs in 2012. Local HNWI wealth also increased by 171%, from US$2.5 trillion in 2008 to US$5.2 trillion in 2012            
  • Equities recorded the strongest growth over the review period. Driven by a strong local residential market, real estate also grew strongly.
  • There were 9,087 UHNWIs in China, with an average wealth of US$1.3 billion per person, making them the prime target group for wealth sector professionals. Of this total, there were 195 billionaires, 3,121 centimillionaires and 5,771 affluent millionaires.
  • In 2012, Chinese HNWIs held 12.6% (US$658 billion) of their wealth outside their home country, which is slightly lower than the global average of 20−30%. 
Table of Content

1 Introduction 
1.1 Details of this Report 
1.2 Definitions 

2 Executive Summary 

3 Wealth Sector Fundamentals 
3.1 Political Background 
3.2 Economic Background 
3.3 Social Background 
3.4 Benchmarking China Wealth in Context 
3.4.1 World statistics 
3.4.2 Distribution of wealth in China 
3.5 HNWI Volume and Wealth Trends 

4 Findings from the WealthInsight HNWI Database 
4.1 Trends in HNWI Wealth to 2017 
4.1.1 HNWI trend analysis 
4.1.2 Trends of the wealth bands 
4.1.3 Demographic breakdown of HNWI 
4.1.4 HNWIs – job titles 
4.1.5 HNWIs – industry breakdown 
4.1.6 HNWIs – industry performance 
4.1.7 HNWI breakdown by city 
4.1.8 HNWIs – city performance 
4.1.9 HNWIs – city population densities 
4.1.10 HNWIs – city forecasts 
4.2 UHNWIs 
4.2.1 UHNWI volume trend analysis 
4.2.2 UHNWI wealth trend analysis 
4.2.3 Demographic breakdown of UHNWIs 
4.2.4 UHNWIs – sector breakdown 
4.2.5 UHNWIs – City breakdown and performance 
4.3 UHNWIs – Billionaires 
4.3.1 Billionaire volume trend analysis 
4.3.2 Billionaire wealth trend analysis 
4.3.3 Billionaire per capita net worth trend analysis 
4.3.4 List of billionaires 
4.4 UHNWIs – Centimillionaires 
4.4.1 Centimillionaire volume trend analysis 
4.4.2 Centimillionaires wealth trend analysis 
4.4.3 Centimillionaires per capita net worth trend analysis 
4.5 UHNWIs – Affluent Millionaires 
4.5.1 Affluent millionaire volume trend analysis 
4.5.2 Affluent millionaire wealth trend analysis 
4.5.3 Affluent millionaire per capita net worth trend analysis 
4.6 Core HNWIs 
4.6.1 Core HNWI volume trend analysis 
4.7 Core HNWIs – Mid-Tier Millionaires 
4.7.1 Mid-tier millionaire volume trend analysis 
4.7.2 Mid-tier millionaire wealth trend analysis 
4.7.3 Mid-tier millionaire per capita net worth trend analysis 
4.8 Core HNWIs – Lower-Tier Millionaires 
4.8.1 Lower-tier millionaire volume trend analysis 
4.8.2 Lower-tier millionaire wealth trend analysis 
4.8.3 Lower-tier millionaire per capita net worth trend analysis 

5 Analysis of Chinese HNWI Investments 
5.1 Analysis by Asset Classes 
5.1.1 Trends in alternative assets 
5.1.2 Trends in “art, wine and wheels” 
5.1.3 Trends of investments in real estate 
5.1.4 Trends of investments in cash and deposits 
5.1.5 Trends of investments in fixed-income 
5.1.6 Trends of investments in equities 
5.1.7 Trends of investments in business interests 
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe 
5.2.2 Investments in North America (Including the US, Mexico and the Caribbean) 
5.2.3 Investments in Asia-Pacific 
5.2.4 Investments in South America
5.2.5 Investments in the Middle East 
5.2.6 Investments in Africa 
5.3 Alternative Breakdown: Liquid vs Investable Assets 
5.4 Analysis of Chinese UHNWI Investments 

6 Competitive Landscape of the Wealth Sector 
6.1 Competitive Landscape 
6.1.1 Private Banks 
6.1.2 Wealth managers
6.1.3 Family Offices 
6.1.4 Single-family offices
6.1.5 Financial advisors 
6.2 Developments in China’s Private Banking Industry 
6.3 Wealth Management Industry – Clientele Model and Maturity 
6.4 Behavioral Mapping of Wealth Management and Private Banking 
6.5 Porter’s Five Force Analysis – The Chinese Wealth Management Industry 
6.6 Financial Services Review 
6.6.1 Retail banks 
6.6.2 Hedge funds 

7 Appendix 
7.1 Additional Components of the Wealth Sector in China 
7.1.1 Philanthropy 
7.1.2 Demand for Intergenerational Wealth Transfer 
7.1.3 Human Resource Availability for the Wealth Management Industry 
7.2 Regulations on Taxes 
7.3 Regulations Related to Immigration, Investment and Employment 
7.4 Economic Indicators 
7.4.1 CNY to US$ exchange rate 
7.4.2 Real GDP growth 
7.4.3 Per capita GDP 
7.4.4 Domestic market capitalization 
7.4.5 Commodity index 
7.4.6 Foreign direct investment 
7.4.7 Inflation rate 
7.4.8 Interest rate 
7.4.9 Balance of payments 
7.4.10 Government debt 
7.4.11 Stock market performance 
7.4.12 Wealth Breakdowns 

8 About WealthInsight

List of Tables


Table 1: HNWI Wealth Band and Group Definitions 
Table 2: Main Regions in  China 
Table 3: Chinese HNWIs – Volume Distribution Wealth Pyramid, 2012 
Table 4: Chinese HNWIs – Wealth Distribution Wealth Pyramid (Percentage share), 2012 
Table 5: China HNWI Sector Performance, 2008–2012 
Table 6:  Chinese HNWIs – Cities, 2012 
Table 7: Chinese HNWIs – Top Cities, 2008–2012 
Table 8: Chinese HNWIs − Population Density in Major Cities, 2012 
Table 9: Chinese HNWI – Top Cities, 2008–2017 
Table 10:   Chinese HNWI Growth Rates for Top Cities, 2008–2017 
Table 11: China UHNWI –Source of Wealth (Percentage), 2012 
Table 12: Chinese UHNWIs in Top Cities, 2008–2017 
Table 13: Chinese UHNWI Growth Rates for Top Cities, 2008–2017 
Table 14: China Billionaires – Market Overview (US$ Billions) 2008–2017 
Table 15: China Top-10 Billionaires (US$ Billions), 2012 
Table 16: China Billionaire Wealth Growth, 2008−2012 
Table 17: China Centimillionaires – Market Overview, 2008–2017 
Table 18: China Affluent Millionaires – Market Overview, 2008–2017 
Table 19: Chinese Mid-Tier Millionaires – Market Overview, 2008–2017 
Table 20: China Lower-Tier Millionaires – Market Overview, 2008–2017 
Table 21: Chinese Allocations of HNWI Assets, 2008−2017 
Table 22: Chinese HNWIs − Holdings Growth (%), 2008–2017 
Table 23: Chinese HNWIs – Trends of Investments in Alternative Assets (%), 2008–2017 
Table 24: Chinese HNWIs – Alternative Asset Composition (%), 2008–2017 
Table 25: China Trends in “Art, Wine and Wheels”,  2008–2012 
Table 26: Global Prime Real Estate Prices Per Square Meters, US$ Terms, 2012 
Table 27: Global: Prime International Cities Performance (%), 2008–2012 
Table 28: Chinese HNWIs – (Percentage) Foreign Allocation, 2008–2017 
Table 29: Chinese HNWIs – Liquidity Breakdown (US$ Billion), 2008–2017 
Table 30: Chinese HNWIs – Liquidity Breakdown (%), 2008–2017 
Table 31: China UHNWIs – Allocations and Share of HNWI Assets, 2012 
Table 32: Major Companies - China Wealth Management and Private Banking Industry, 2012 
Table 33:  Chinese Income Tax Structure and Taxable Bands, 2012 
Table 34: CNY to US$ Exchange Rate, 2008–2017 
Table 35: China Real GDP Growth, 2008–2017 
Table 36: China GDP Per Capita, 2008–2017 
Table 37: China Domestic Market Capitalization (US$ Billions) 2008–2012 
Table 38: China Commodity Indices, 2008–2017 
Table 39: China Foreign Direct Investments (US$ Billions) 2008–2017 
Table 40: China Inflation Rate, 2008–2017 
Table 41: China Money Market Rate, 2008–2017 
Table 42: China Balance of Payments (US$ Billions) 2008–2012 
Table 43: China Government Debt to GDP, 2008–2017 
Table 44: China Stock Market Performance, 2008–2012 
Table 45: China HNWI Wealth vs GDP Ratio, 2008–2017 
Table 46: China Appendix One 
Table 47: China Appendix Two 

List of Figures


Figure 1: HNWI Wealth Band Definitions 
Figure 2: Map of China 
Figure 3: China: Asset Price Performance, 2008–2012 
Figure 4: China HNWI Performance, 2008–2017 
Figure 5: Chinese HNWIs vs the World 
Figure 6: China HNWIs – Growth Factor Correlation, 2008–2012 
Figure 7: Chinese HNWIs – Volume Distribution Wealth Pyramid, 2012 
Figure 8: Chinese HNWIs – Wealth Distribution Wealth Pyramid (Percentage Share), 2012 
Figure 9: Chinese HNWIs – Age Distribution, 2012 
Figure 10: Chinese HNWIs – Job Titles, 2008–2012 
Figure 11: Chinese HNWIs – Distribution by Industry, 2012 
Figure 12: Chinese HNWIs – City Performance, 2008–2012 
Figure 13: Chinese HNWIs – City Numbers, 2008 and 2012 
Figure 14: Chinese HNWIs – City Forecasts, 2012–2017 
Figure 15: Chinese HNWIs – City Numbers, 2012 and 2017 
Figure 16: Chinese UHNWIs – Wealth Share vs Volume Growth, 2008–2012 
Figure 17: China UHNWIs – Volume by Wealth Band, 2008–2017 
Figure 18: Chinese UHNWIs – Wealth by Wealth Band (US$ Billion), 2008–2017 
Figure 19: China UHNWIs – Age Distribution (Percentage Share), 2012 
Figure 20: China UHNWIs – Distribution by Industry, 2012 
Figure 21: China Billionaires – Market Overview, 2008–2017 
Figure 22: China Centimillionaires – Market Overview, 2008–2017 
Figure 23: China Affluent Millionaires – Market Overview, 2008–2017 
Figure 24: Chinese Mid-Tier Millionaires – Market Overview, 2008–2017
Figure 25: China Lower-Tier Millionaires – Market Overview, 2008–2017 
Figure 26: Chinese HNWIs – Asset Class Composition, 2008–2017 
Figure 27: Chinese HNWIs – Trends in Alternative Assets (in US$ Billion),  2008–2017 
Figure 28: China Trends in “Art, Wine and Wheels”,  2008–2012 
Figure 29: Chinese HNWIs – Foreign Investment Allocation and Growth (Percentage), 2012–2017 
Figure 30: Chinese HNWIs – Global Distribution of Foreign Investments, 2008–2017 
Figure 31: Chinese HNWIs – Liquidity Breakdown (%), 2008–2017 
Figure 32: China UHNWIs – Asset Class Composition, 2008–2017 
Figure 33: China: Wealth Management Industry – Maturity Level of Players 7
Figure 34: China: Behavioral Mapping of HNWIs, 2012 
Figure 35: Chinese Wealth Management Industry – Five Forces Analysis 
Figure 36: SGD to US$ Exchange Rate, 2008–2017 
Figure 37: China Real GDP Growth (%), 2008–2017 
Figure 34: China GDP Per Capita, 2008–2017 
Figure 35: China Domestic Market Capitalization (US$ Billions)  2008–2012 
Figure 36: China Commodity Indices, 2008–2017 
Figure 37: China Foreign Direct Investments (US$ Billions) 2008–2017 
Figure 38: China Inflation Rate, 2008–2017 
Figure 39: China: Money Market Rate, 2008-2017 
Figure 40: China Balance of Payments (US$ Billions) 2008–2012 
Figure 41: China Government Debt to GDP, 2008–2017 
Figure 42: China Stock Market Performance, 2008–2017 
Figure 43: China HNWI Wealth vs GDP Ratio, 2008–2017 
Figure 44: Chinese HNWIs – Volume by Wealth Band, 2008–2017 
Figure 45: Chinese HNWIs – Wealth by Wealth Band (in US$ Billions), 2008–2017 
Figure 46: Chinese HNWIs – Wealth Per Capita (in US$ Billions), 2008–2017 

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