The Nanfang / Blog


Many of China’s 14 Million Rich are Pouring Their Money into Hong Kong

Posted: 01/30/2015 9:05 am

A gold-plated sports car in Nanjing

Thirty years of continuous growth means there are a lot of rich Chinese people walking around — 14 million of them, to be exact. And according to a new report by Heng Seng Bank, many of them are parking their money in Hong Kong. 

The wealthy – defined as Chinese nationals with assets between RMB 600,000 and RMB 6 million – primarily come from Beijing, Guangdong and Shanghai. As of August last year, the group had RMB 1.1 trillion worth of assets in Hong Kong.

Despite the Occupy Central protests and growing political tensions in the city, more than 60 percent of Guangdong residents say they are optimistic about Hong Kong’s future, and half of the respondents said they had already acquired some assets in Hong Kong.

Photos: ibtimes 

Keep in Touch

What's happening this week in Shenzhen, Dongguan and Guangzhou? Sign up to be notified when we launch the This Week @ Nanfang newsletter.

sign up for our newsletter

Nanfang TV