China has 2.7 million people with at least ¥6 million in net assets, according to a Hurun report on the spending habits of the nation's rich population. Of the 2.7 million, who are aged 39 on average, 63,500 - aged 41 on average - possess ¥100 million in net assets or more.
Here are the characteristics of this 2.7 million rich population:
- 60% are willing to pay for financial services linked to tourism;
- 50% are willing to pay for health and fitness services;
- one-third are willing to pay for education for their children, and 85% plan to send their children overseas to receive education;
- they spend ¥150,000 on gifts on average, or 10% of their annual expenditures;
- 73% would go to Hong Kong and 28% would go to Europe to buy luxury goods;
- they spent an average 6.9 days on business trips per month;
- they exercise 2.3 times on average per week;
- 60% have personal collections;
- 35% keep pets;
- 10% have personal doctors.