China's Ultra-High-Net-Worth Population Increases, Hong Kong Forecast for Growth by 2031
Mainland China's population of individuals with assets exceeding $30 million grew 23 percent over the past five years to 121,677, according to a report. The figure is projected to rise another 18.8 percent to 144,602 by 2031, while China's global share of such individuals declined slightly.
Substrate placeholder — needs review · Wikimedia Commons (CC BY-SA 3.0)The population of ultra-high-net-worth individuals in mainland China, defined as those with assets over $30 million, increased by 23 percent over the past five years, reaching 121,677, according to a London-based consultancy's annual Wealth Report released on Thursday.
China's share of the global total for such individuals decreased by one percentage point to 17 percent this year and is projected to fall to 15 percent by 2031, due to wealth growth in the United States, the report stated.
The report noted that nearly every country is experiencing a reduction in global market share due to wealth expansion in the United States. Globally, the number of ultra-high-net-worth individuals rose to 713,626 in 2026 from 551,435 in 2021, equivalent to about 89 people reaching the $30 million threshold each day.
Kong, the population of ultra-high-net-worth individuals declined by 3.3 percent to 6,788 compared with 2021. The figure is forecast to increase by 25 percent to 8,485 by 2031, ranking as the 19th fastest growth rate worldwide, according to the report.
Hong Kong is attracting interest as a family office hub, aided by regulatory streamlining, new talent visa schemes bringing in mainland professionals, lower income taxes, discounted property options, and faster setup times.
Key Facts
Story Timeline
3 events- 2026-04-23
A London-based consultancy released its annual Wealth Report on global ultra-high-net-worth individuals.
1 sourceSouth China Morning Post - 2026
Global ultra-high-net-worth individuals reached 713,626, up from 551,435 in 2021.
1 sourceSouth China Morning Post - Past five years
Mainland China's ultra-high-net-worth population grew 23 percent to 121,677.
1 sourceSouth China Morning Post
Potential Impact
- 01
Increased wealth concentration in China could boost investment in family offices and real estate in Hong Kong.
- 02
Declining global share for China may influence international wealth management strategies focusing more on the US.
- 03
Hong Kong's projected growth could attract more mainland professionals under talent visa schemes.
- 04
Global rise in UHNWIs may lead to higher demand for luxury assets and services worldwide.
Transparency Panel
Related Stories
Jashuah / Wikimedia (CC BY-SA 3.0)Oil Prices Drop After Reports of U.S.-Iran Talks on Ending War and Reopening Strait of Hormuz
Oil prices dropped significantly following reports that the U.S. and Iran are close to a memorandum of understanding to halt fighting and begin nuclear talks. President Trump announced a pause in the U.S. naval escort operation in the Strait of Hormuz. Iran is expected to respond…
The U.S. Food and Drug Administration / Wikimedia (Public domain)FDA Withdraws Studies Supporting Safety of COVID and Shingles Vaccines
The U.S. Food and Drug Administration blocked the publication of research finding rare side effects from COVID and shingles vaccines. The studies were withdrawn due to broad conclusions not supported by data, amid broader efforts by the Trump administration to challenge vaccine r…
UAE Leaves OPEC After 60 Years of Membership, Reducing Group to 11 Producers
The United Arab Emirates departed the Organization of the Petroleum Exporting Countries on Tuesday, reducing the group's membership to 11 nations. OPEC members now account for about 33% of global crude oil output. The exit occurs amid high oil prices and the ongoing closure of th…