24/7

    Monday to Sunday

    Location

    Worldwide

    Contact us

    info@zonezi.com

    Compare Listings

    The Chinese Dream is coming true for millions

    The Chinese Dream is coming true for millions

    China’s middle class is now the biggest in the world, and growing much faster than America’s, according to research by Credit Suisse.

    There are 109 million Chinese with wealth of between $50,000 and $500,000. Since 2000, twice as many Chinese as Americans have joined the middle class.

    Credit Suisse measured wealth rather than income to avoid temporary changes caused by unemployment, for example.

    Chinese are getting richer at an astonishing rate. Wealth per adult has quadrupled to about $22,500 since 2000. The country now accounts for a fifth of the world’s population, while holding about 10% of global wealth.

    “The wealth of the country’s households could well continue to leapfrog the growth rates of developed economies,” Credit Suisse said.

    China should also see the number of millionaires soar 74% to 2.3 million by 2020, according to the report.

    A report by UBS and PricewaterhouseCoopers found that a new billionaire was created almost every week in China in the first quarter of the year.

    Make a right investment

    img

    Zonezi

      Related posts

      Ford Foundation Launches a New Program to Tackle Inequality

      The Ford Foundation is committing $50 million in a new program designed to support 240 social...

      Continue reading
      Zonezi
      by Zonezi

      When Can we Travel? Everything You Need to Know

      When will Coronavirus Travel Restrictions be Lifted? Each country’s approach to travel is...

      Continue reading
      Zonezi
      by Zonezi

      New Build Stories: Inside the Design and Build of Life Saga

      In this episode of New Build Stories, BOAT chats with Gian Marco Campanino, art director of The...

      Continue reading
      Zonezi
      by Zonezi

      Join The Discussion