Where Do Chinese Luxury Consumers Live?

on May 16 2011 | in Lifestyle Trends | by | with No Comments

Guangzhou Opera House

China has 960,000 “millionaires” with personal wealth of 10 million Yuan or more (US$1.5 million), up nearly 10%, or 85,000 individuals, according to the Hurun Report. These wealthy consumers are young with an average age of 39 years. Over half of them derived their wealth from their private business, while 20% from property investment and 15% from the stock market. About 30% of them are women.

The Chinese millionaire luxury consumers do not necessarily reside in Beijing, Shanghai or Guangdong. In fact, slightly over 50% of them live outside of these three regions. The top regions where you will find the most Chinese luxury consumers:

1.  Beijing            170,000 millionaires        17.7% of total

2. Guangdong    157,000 millionaires         16.4% of total

3. Shanghai        132,000 millionaires         13.8% of total

4. Zhejiang         126,000 millionaires         13.1% of total

5. Jiangsu             68,000 millionaires         7.1% of total

6. Fujian                36,000 millionaires         3.8% of total

7. Shandong         33,000 millionaires         3.4% of total

8. Liaoning           29,000 millionaires         3% of tital

9.  Sichuan           24,000 millionaires         2.5% of total

10. Henan            16,500 millionaires          1.7% of total

Another 168,000 millionaires (17.5% of total) are located throughout other areas of China.

image credit: eugene lim

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