Multimillionaire residents in Zhuhai up in number

With one in every 230 people possessing at least 10 million yuan ($1.5 million) in assets, Zhuhai ranks ninth in the top 20 Chinese cities with the densest high-net-worth population in the Greater China region. This includes the Chinese mainland, Hong Kong, Macao, and Taiwan, according to the Hurun Wealth Report 2017 released on Sept 5.

The density in Zhuhai surpasses that of Ningbo in Zhejiang Province, and is almost up there with Guangzhou, Zhejiang's Hangzhou, and Shenzhen. Hong Kong ranks first, as one out of every 34 residents is a multi-millionaire. Second is Beijing at one in 83. Following are Taiwan capital Taipei, Macao, and Shanghai.

In addition, Zhuhai takes fifth place in the Guangdong-Hong Kong-Macao Greater Bay Area, just a little behind Hong Kong, Macao, Shenzhen, and Guangzhou.

The latest wealth report published by the Hurun Research Institute unveiled how many high-net-worth individuals and families there are and how they are distributed geographically. The objects of the study are divided into four types: those with assets of more than 6 million yuan ($917,500), 10 million yuan ($1.5 million), 100 million yuan ($15.3 million), and $30 million. 

Hurun Wealth Report 2017 released on Sept 5 [Photo courtesy sohu.com]

A high-net-worth individual commonly refers to someone with investable assets worth over 6 million yuan or $1 million. And net worth typically includes houses, cars, investments, jewelry, and yachts (minus debt) -- liquid financial assets that can be moved around easily within a few days.

The report shows that the Greater China region has seen an increase of 6.3 percent from the previous year to now have 4.6 million households owning assets of over 6 million yuan. Around 80 percent live on the Chinese mainland.

Moreover, the number of families with assets of 10 million yuan grew by 8.6 percent to 1,860,000. They are designated as high-net-worth families. Meanwhile, a 10.5 percent increase is also seen in the number of super high-net-worth families -- those who have assets of 100 million yuan. They now total 120,000.

In the meantime, households in Guangdong possessing assets of over 6 million yuan, 10 million yuan, and 100 million yuan respectively number 628,000, 268,000, and 15,700.

Zhuhai has 16,900, 7,550, and 450 households in each category.