The study has also revealed that over half of the growth will be from tier 1 and tier 2 cities in China.
Moreover, China is predicted to be contributing over 50% of the expected overall wealth growth in Asia.
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Presently, in terms of geographic spread, 40% of HNW individuals in China are located in the Pearl River Delta, 31% in the Yangtze River Delta, while another 11% are in the Bohai Region.
The number of individuals in the HNW and UHNW segments, in total, is estimated to grow by about 20% per annum from 2012 to 2015, reaching around 2 million and 130,000 individuals, respectively.
The report has also stated that in terms of demographics, most of the HNW individuals in China are males between the ages of 40 and 60 and that they are primarily entrepreneurs or corporate executives, and have at least a secondary school education (higher than the national average).
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