China – A millionaire Nation
The High Net Worth Individual growth of China in 2007 was much better than the one in 2006 where it saw a 7.8% growth, which reflected in China’s strong economic activity and potential for growth. A market capitalisation of 291 and a GDP growth rate of 11.4% was marked last year. The Shanghai Exchange grew to be the sixth largest exchange in the world in terms of total market capitalisation.
Reports say that China’s economy still owes this tremendous growth to its manufacturing capacity. “This is why its High Net Worth Individual population growth is slower than that of India”.
China is now ranked second in the growth of millionaires. The millionaire population has advanced by 20.3% in 2007, more than two-and-a-half times greater than its 2006 pace, reports the World Wealth Report.
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