The mainland's richest 1.2 million families hold nearly half of the total investable assets in the country - an estimated 62 trillion yuan (HK$76 trillion) - a joint study by China Construction Bank and Boston Consulting Group has found.
The study said these high-net-worth families, which own no less than 6 million yuan of investable assets each, are fast at amassing wealth, but lack mature attitude and professional ways to allocate their money.
The value of their investable assets is expected to total 27 trillion yuan at the year-end, up 42 per cent from three years ago.
The study released by the nation's second largest lender and the global consulting firm yesterday found close to 60 per cent of the mainland's high-net-wealth individuals are private entrepreneurs, while 28 per cent are successful investors in property and financial markets.
Major cities and coastal provinces continue to have the most affluent residents. More than one third of the mainland's richest live in Beijing, Shanghai and Guangdong province.
Meanwhile, wealth is also spreading rapidly across western and southern regions like Shanxi, Gansu, Anhui, Guizhou and Hainan, which have seen the fastest growth in the number of high-wealth households.