According to the latest Global Wealth study 2023 China ranks second in the planet in terms of the number of millionaires, i.e. people whose property is worth more than US$ 1 million (about PLN 4,102 million).
There are 6.231 million of them in China, or 10.5% of all millionaires in the world.
The study was developed by the Swiss USB/Credit Suisse bank. The criterion was the value of the full underpants/financial assets and non-financial families counted in USD. The survey was conducted in 217 different countries and regions of the world.
The full assets of all Chinese millionaires in 2022 were valued at $84.48 trillion (about PLN 346.55 trillion), which means a decrease of 7.19% compared to 2021. The USD/RMB exchange differences, real property problems and mediocre stock marketplace performance last year play a major function in the change (the average share value fell by 19.4% in relation to 2021).
At the end of 2022, an adult in China accounted for an average of $72,731 (about PLN 298,328), an increase of 14% a year.
The global average per capita property of our planet was 84,718 USD (c. 347,496). This means that average assets per individual in the Central State are approaching the global average, with financial assets increasing faster in China than non-financial assets last year. They represent 45.4% of gross assets and have grown at an yearly rate of 15.7% since 2000.
The year 2022 was a challenge for China in many respects, including in terms of the size of the Chinese property. In the past year, for the first time since 2000, the value of assets per individual fell by 2.3%, with financial assets per individual falling by only 0.7%, but non-financial assets decreased by 3.5%, partially reflecting difficulties in the housing market.
At the same time, debt per individual fell by 3.2%.
Global Wealth study 2023 data
It is worrying, persisting since 2000, deepening wealth inequality.
Gini's rate was in China in 2022. 46,5 in the same year in the United States it was 48,5. On the 1 hand, the indicator reveals the scale of growth in the wealth of Chinese society, but on the another hand confirms many observations showing that the authorities are facing a large deal of efforts to accomplish a balanced level of income, specified as in Europe.
By the way: I have any doubts about the calculations of Swiss financial analysts. I take my humble example.
Taking the methodology of calculating the Global Wealth study 2023, given the value of the apartment, the stock held and the savings, I am among Chinese millionaires. And after all, there are many more people like me (with my own apartment, shares or savings) in China. Much, much more than just over 6 million. It would suffice to examine the wealth of the inhabitants of the largest Chinese cities, the first and second circles.
Gini factor – is an indicator adopted to measurement the level of income inequality in a given country on a scale of 0 to 100. Value 0 means no inequality, everyone in the country has the same income (perfect situation), value 100 means maximum inequality in society – the full property is in the hands of 1 person.
The higher the value of the indicator, the higher the income inequality in the country.
Source: ubs.com
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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