finance
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.
South China Morning PostAudio version
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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.
