Abstract

China is now home to one million high-net-worth individuals (HNWIs)?twice as many as in 2010. This is a key fi nding of the 2015 China Private Wealth Report, jointly published by Bain & Company and China Merchants Bank (CMB). We surveyed approximately 2,800 Chinese HNWIs (those with individual investable assets in excess of RMB 10 million, or approximately US $1.6 million). We conducted our fi rst survey in 2009 and have conducted three follow-ups since then. Our latest survey found that the country’s total private wealth market grew by 16% annually between 2012 and 2014, reaching RMB 112 trillion in 2014. This market should reach RMB 129 trillion in 2015.

The HNWI population is expanding throughout China. While only the seven provinces of Guangdong, Shanghai, Beijing, Jiangsu, Zhejiang, Shandong and Sichuan claim more than 50,000 HNWIs, the numbers are increasing rapidly in provinces like Xinjiang, Hubei and Shaanxi, where the number of HNWIs rose by 25% to 35% annually between 2012 and 2014, contributing to a more balanced geographic distribution of wealth.

Contents

1. China’s private wealth market

2. Investment mindset and behaviors 

3. Private banking: Competitive landscape