Macau ranked fourth in China’s multi-millionaire stakes

Over 10,000 households in Macau own RMB6 mln-worth of assets in 2017
There is one multi-millionaire for every 91 individuals in Macau for the year 2017, ranking the city fourth in China, according to Hurun Wealth Report 2017. For the first time, the report includes both the SARs and Taiwan. Neighbouring Hong Kong topped the list, with one multi-millionaire for every 34 individuals. Beijing boasts one in 83, and Taipei one in 86. ‘When we first compiled this financial report nine years ago the high net worth of the family purchasing power of Hong Kong, Macau and Taiwan were way much stronger than those in the Chinese cities,’ noted the report, while stating that the situation flipped with the Mainland having stronger purchasing power than the Special Administrative Regions. More specifically, 17,000 households in Macau have RMB6 million-worth of assets in 2017, with 6,000 households holding RMB6 million-worth of assets that could be re-invested. Moreover, there are 6,500 households in Macau that hold assets worth RMB10 million, with 3,300 of them holding assets that could be re-invested. Currently, over 600,000 residents in Macau generated per capita GDP of MOP554,619 in 2016, according to the World Bank. In Hong Kong, with the current population hitting 7.34 million, the Hurun Wealth Report reveals that 528,000 Hong Kong residents have assets worth RMB6 million, up 3.3 per cent when compared to last year’s data; 185,000 of them have RMB6 million-worth of assets that could be re-invested. Turning to the richer groups, some 214,000 residents have RMB10 million-worth of assets, indicating an increase of 5.4 per cent year-on-year. As such, Hong Kong again ranks first in having the biggest number of billionaires, followed by Taipei, Beijing and Shanghai. For all of Mainland China, some 3.62 million households are recorded as having RMB6 million-worth of assets, a 7.1 per cent increase year-on-year.