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This post was edited by Bandito at 2013-7-16 13:04|
EricTian Post time: 2013-7-16 12:11
After fasting development of china in recent years, the economic get a great sucess. but it stored m ...
You are correct but the poorer classes are being cheated wholesale
How Is Wealth Distributed Across China?
Between 2008 and 2009 the number of Chinese millionaires with assets worth more than 10 million renminbi rose from 825,000 to 875,000, according to rough estimates by the Chinese government. Within just one year, 50,000 more Chinese struck it rich.
The number of super rich with assets in excess of 100 million renminbi increased by 4,000 during the same period, from 51,000 to 55,000. China even has some 2,000 billionaires with assets of more than 1 billion renminbi and more than 100 mega rich worth more than 10 billion renminbi.
Not long ago Xincaifu (“New Wealth”), a monthly Chinese business magazine, came out with its latest list of China's 500 richest people, which showed that 88 had made their fortune in real estate, owning an average 7.38 billion renminbi per person.
The number of real estate noveau rich is troubling.......and like the Japan, Korea and US........headwinds ahead
The super rich at the top of the wealth pyramid are rapidly increasing, while the average peasant at the bottom earns less than US$5,000 per year.