Top 10 cities where China's 'rich families' live
The Hurun Research Institute released the Hurun Wealth Report 2019 in Shanghai on Tuesday, which provided a detailed analysis of "rich families", "high net-worth families" and their geographical distribution in China. This is the 11th consecutive year in which Hurun has released the report.
A "rich family" is defined as a family with a net worth of more than 6 million yuan ($853,711), while a "high net-worth family" has a net worth of at least 10 million yuan.
As per the report, the wealth of the "rich families" in China totaled 128 trillion yuan, 1.3 times as much as the yearly GDP of this area. Wealth from the Chinese mainland accounts for 80 percent.
As of Dec 31, 2018, the number of rich families in China had reached 4.94 million, up 60,000 from the previous year. And the number in the Chinese mainland had reached 3.92 million.
Let's take a look at the top 10 cities for China's "rich families".
