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World banks in a race for Chinese wealth of $7.6 trillion

November 19, 2009 - 6:57am | Analytics | News
World banks in a race for Chinese wealth of $7.6 trillion

The number of U.S.-dollar millionaires in China is expected to nearly double in five years, luring private bankers eager to help them invest an expected combined wealth over $7.6 trillion by 2013, Boston Consulting Group (BCG) said on Thursday.

Global wealth declined last year for the first time since 2001, the consultancy said, but the number of Chinese individuals with household financial wealth of more than $1 million may grow to 788,000 by 2013 from 417,000 in 2008.
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assets | Bank of East Asia | BCG | China | Citigroup | global recession | HSBC Holdings | millionaire | wealth
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