The super-rich are becoming a really sexy subject in the Chinese media. Today the Financial Times also describes this special group in Chinese society.
Below the super-rich level is the rapidly expanding class of millionaires. According to a 2008 world wealth report by Merrill Lynch and Capgemini, China has 415,000 people who have $1m in disposable assets. This makes China home to more millionaires than any other country in the world.
Rupert Hoogewerf, in China better known as Hurun, has been following the super-rich for almost a decade and is a leading expert in this field. In the FT:
The super-rich “are beginning to dance without their chains”, says Rupert Hoogewerf, editor of the Hurun Report. He argues that the country’s new wealthy have gone through the initial stage of securing their family’s financial independence and have established relationships with the government and paid their taxes, so there is no legal cloud over their head.
“In the next stage, they can really do anything they want, whether it is buying art or land or investing in a mine,” he says.
Rupert Hoogewerf is also available as a speaker for your events. If you are interested in having him, do drop me a line.