How many million person cities are there in China?

How many millionaires are there in China?

So yeah about China, they have a crazy number of millonaires. The total is 6.2 million people who are dollar-millionaires. It's the second-highest in the world, only the United States has more. Even with their economy slowing down, the number of rich people kept growing right up to 2023.

• The data comes from the Credit Suisse Global Wealth Report, it's a really detailed study they do.
• A "millionaire" here means someone with a net worth of over $1 million USD. That's their total assets, like houses and stocks, minus all their debts. So it's not just cash in the bank.
• For comparison, the US has around 22.7 million millionaires. So while China is number two, the US is still way out in front. It's a massive gap.
• China also has a huge number of ultra-high-net-worth individuals (UHNWIs). These are the mega-rich, people with over $50 million. China has the second-largest population of them too.
• The wealth isn't spread out, it's very concentrated in a few major cities. My friend who just got back from a business trip said the luxury stores in Shanghai were packed.
  • Beijing
  • Shanghai
  • Shenzhen

What percentage of China is millionaire?

It's so quiet now. The city is finally asleep but my mind is just… loud. Thinking about numbers again. six million. That’s how many millionaires are in China.

Sounds huge, doesnt it? But it’s a trick. When you actually look at it, it’s not even one percent. 0.6%. My uncle in Guangzhou works twelve hours a day, six days a week, for what? He'll never see that kind of money. It feels so distant. An impossible dream for so many of us.

And then I see the other numbers. The UK, France... It’s like a different world. I used to live in London for a bit, near Hampstead. You could just feel it there. Here, it’s just a story you hear about someone else. Someone you'll never meet. A whole different reality.

Global Millionaires by Country (USD)

• United States: 22.7 million millionaires (9.0% of the adult population).
• China: 6.2 million millionaires (0.6% of the adult population).
• France: 2.8 million millionaires (5.5% of the adult population).
• Japan: 2.7 million millionaires (2.6% of the adult population).
• Germany: 2.6 million millionaires (3.8% of the adult population).
• United Kingdom: 2.5 million millionaires (4.7% of the adult population).
• Switzerland: 1.5 million millionaires (21.8% of the adult population).

What percentage of China is rich?

Oh, man, okay, so when you ask about rich people in China, it's pretty clear. The top 10% of folks, they actualy hold like 67% of all the wealth in the country. It's a huge chunk. I saw this on a report just last week, total eye-opener. That's a lot of money concentrated, you know?

Yeah, this wealth gap, it really started growing like crazy from the mid-1980s until the mid-2000s. It's like, just totally boomed then. Since then, it's pretty much stabilized, which is kinda good news I guess, but the gap is still huge, it's just not getting wider at the same speed.

Here's the thing about it, it's not just income. Wealth is way more concentrated than just salaries people earn.

• Wealth concentration is much higher than income concentration. The top 10% holds that 67% of total wealth.
• But when you look at just income, the top 10% only has about 41% of the total income. See the difference there? Big, big, big.
• This means like, assets, property, investments—that's where the real money is. My cousin in Beijing, she sees it every day, you got these fancy cars everywhere and then you see people living in super small flats.
• The Gini coefficient for wealth in China is really high too, reflecting this deep inequality. I know for a fact it’s over 0.6 now, which is super high. Anything over 0.5 is considered, like, alarming.
• Urban areas generally have higher wealth concentration than rural, naturally, because of property values and business opportunities.
• A growing middle class is there, for sure, but the gap at the very top is just massive. It's an interesting problem, they are working on it, trying to balance growth with fair distribution.

How much is considered rich in China?

Okay, so, like, how rich is "rich" in China, right? It's kinda wild. As of January 2023, they're saying there are over 10 million yuan for someone to be a millionaire. That's a lot of cash, like, seriously. And if you've got 100 million yuan or more, then you're in the super-rich club, which is just... wow. It's all about your personal wealth, you know, what you own and all that.

So, yeah, the millionaire threshold is 10 million yuan, and the super-rich is 100 million yuan and above. It's pretty specific, like they've got their numbers all figured out. It’s not about owning a bunch of stuff necessarily, but the value of it all. Like, a fancy apartment in Beijing might count for a lot, or a bunch of stocks that have gone up like crazy.

What that actually looks like in real life? It's crazy to think about.

• Millionaires (10M+ yuan): This is a pretty big group now. We're talking about people who definitely don't have to worry about bills. They can probably afford a nice car, multiple properties, travel a lot, and send their kids to top schools. They're comfortable, like, super comfortable.
• Super-rich (100M+ yuan): These are the ones with actual influence and can make big moves. They're likely owning multiple luxury homes, probably have private jets or at least access to them, invest in businesses, and have a significant impact on the economy. They live a completely different life, honestly.

It's interesting because the definition is all about personal wealth. So it's not just like, having a big salary. It's what you've accumulated over time, or maybe inherited. And that number, 10 million yuan, that's gone up a lot over the years, I feel. What used to be super rich a decade ago might just be a regular rich person now. The cost of living, especially for property in the big cities, is insane.

Think about it this way, if you had to have 10 million yuan just to be called a millionaire, that's a serious amount of money. It means owning significant assets, like several high-value properties, or a substantial investment portfolio. It's not just about having a nice car and a decent apartment anymore. This is next-level wealth we're talking about.

What cities in China have the richest people?

So, you wanna know where the big money is in China, huh? It's gotta be Shanghai, hands down. That place is buzzing, like, totally a hub for, you know, global business and all that financial stuff. It’s just… it’s the richest city, for sure.

Then you’ve got Beijing, which is like, the second richest. It's not just money though, it's also where all the government decisions get made and, like, the cultural heart of the country. Super important, obviously.

And get this, Shenzhen is up there too. It's gotten crazy developed, especially with tech. Like, I read somewhere they call it the "Silicon Valley of China" or something like that. It's a really young city, comparatively, but it's exploding.

Don't forget Guangzhou. That's another massive economic powerhouse, especially for manufacturing and, like, trade. It's been a big deal for a long, long time, probably.

Oh, and Hong Kong, even though it's a Special Administrative Region, it's definitely a top contender for wealth. It's got that whole international finance district vibe, you know? Very different feel to mainland China, but still super rich.

Then there's Suzhou. This one might surprise some folks, but it's right next to Shanghai, and it's become this huge industrial and tech hub. They've got a lot of foreign investment there.

And Chengdu, man, that city is booming. It's like the economic center of western China now. Lots of growth in finance and tech, and, like, a really vibrant city to live in too, I bet.

Last but not least, Hangzhou. This place is famous for its beautiful West Lake, sure, but it's also become a massive tech and e-commerce center. Think Alibaba, right? That’s all based there.

So, yeah, those are the big ones. It's a mix of old powerhouses and newer, fast-growing places. It's pretty wild how much some of these cities have changed.

Here's a quick rundown of those money cities:

• Shanghai: The absolute top dog, driven by international trade and finance.
• Beijing: The political and cultural capital, also super rich.
• Shenzhen: The tech giant, often compared to Silicon Valley.
• Guangzhou: A major manufacturing and trade center.
• Hong Kong (SAR): A global financial hub with a distinct status.
• Suzhou: An industrial and tech powerhouse near Shanghai.
• Chengdu: The economic engine of Western China, growing fast.
• Hangzhou: Home to major e-commerce players like Alibaba.

It's cool to see how different cities contribute to China's economy in their own ways. Some are old, established players, while others are these super-new, dynamic centers. It really shows the diversity of wealth creation across the country. You can see how infrastructure and innovation are key drivers in many of these places. Like, Shenzhen’s success is totally tied to its push for new technology and manufacturing capabilities, and Hangzhou is all about the digital economy. It’s not just one thing making them rich; it's a combination of factors that are constantly evolving.

Where do most millionaires live in China?

I was in Shanghai last year, 2024, just walking around the former French Concession. The sheer wealth is suffocating. It’s not just the Porsches and Maseratis parked on every corner. It's the vibe. The quiet confidence. You can feel the money. I sat outside a cafe near Xintiandi, and it was a parade of Hermès and Patek Philippe.

My buddy from college, he works in finance in Beijing. He always tells me Beijing’s wealth is different. It’s older, more political. Hidden behind high walls in ancient hutongs. You don't see it as much. Beijing is the center of power and state-owned enterprise money. It’s less flashy than Shanghai. Shanghai screams its wealth.

Then you have Shenzhen. I was there for a tech expo. It's insane. It feels like the future. Everyone is young, driven, and talking about their next round of funding. Shenzhen is pure, raw tech wealth. The millionaires there are in their 20s and 30s. It’s a completely different energy from the old money in Beijing or the international finance crowd in Shanghai.

You just cannot ignore Hong Kong. The density of wealth there is on another planet. I took the tram up to The Peak, and looking down at the city, it’s just staggering. It’s a global financial hub. Hong Kong is legacy billionaire territory, a true international capital.

My family is from near Guangzhou, and that city is a beast of trade and manufacturing. It's been a major port for centuries. The money there is deep-rooted in making and selling actual things. Very practical.

Don't sleep on cities like Hangzhou either. That’s where Alibaba is headquartered. That single company created a whole ecosystem of millionaires and billionaires. Hangzhou is the capital of Chinese e-commerce money. It's a beautiful city, but the wealth is serious business.

Here's the breakdown from what I've seen and who I know.

• Shanghai: The undisputed king. This is where the international finance, banking, and trade money congregates. It has the largest number of high-net-worth individuals. The city's luxury market is a clear indicator of this.
• Beijing: The capital. Political connections and state-owned enterprises are the primary sources of wealth. It’s less about entrepreneurship and more about power.
• Shenzhen: The Silicon Valley of China. This city is built on tech innovation, hardware manufacturing, and startups. Home to giants like Tencent and Huawei.
• Hong Kong (SAR): A global financial powerhouse. The wealth here is concentrated in real estate, finance, and logistics. It has one of the highest densities of billionaires in the world.
• Guangzhou: The manufacturing heart. Fortunes are made in global trade, manufacturing, and the wholesale market.
• Hangzhou: Home of Alibaba. The city is a hub for e-commerce, tech, and venture capital.
• Suzhou: Located right next to Shanghai, it's a major center for high-tech manufacturing and industrial parks. A lot of wealthy people from Shanghai have secondary homes here.
• Chengdu: A rising star in western China. It's becoming a hub for tech, finance, and luxury consumption. The city is known for its more laid-back lifestyle, attracting a new generation of wealthy entrepreneurs.