Mainland China shows Hong Kong how to grow millionaires

Mainland China shows Hong Kong how to grow millionaires

Millionaires on the mainland will grow in number nearly twice as fast as those in Hong Kong in the next two years, research shows, though more slowly than this year.

Wednesday, 5 June, 2013, 4:05am

Jobless armies remind us growth is not a birthright

The recessionary pall over Europe has darkened the mood of the continent, even as London adds to its millionaire ranks. Photo: EPA

The rich are always with us, and we'll have more of them soon. A report last week from Boston Consulting Group shows that the global millionaire population is some 13.8 million.

5 Jun 2013 - 4:05am

Sao Paulo's millionaires use helicopters to avoid traffic jams

Brazilian millionaire Cozete Gomes says helicopter is the best way to get around in Sao Paulo. Photo: AFP

Model turned business mogul Cozete Gomes owns eight companies and does not really have time to be stuck in Sao Paulo's epic traffic jams. So she just flies over them.

In Brazil's sprawling business capital, home to 20 million people, millionaires sick of nightmarish bottlenecks on the roads are taking to the skies, relying on a massive fleet of private helicopters to get around town.

26 Apr 2013 - 3:21am

Singapore ideal home in Asia for mobile rich

Prices of homes in Singapore have climbed to record levels.

Singapore topped Hong Kong as the most desired place in Asia for so-called mobile millionaires to reside, with quality of life cited as the main attraction, a RBC Wealth Management survey showed.

12 Dec 2012 - 3:54am

Millionaires are down but certainly not out

Volatile markets and sovereign debt crises have thinned the ranks of Hong Kong's wealthy, but they are not about to become extinct, with one millionaire in nearly every 13 people.

And of these millionaires, nearly one in five are housewives, Citibank found in a joint survey with the social sciences research centre at the University of Hong Kong.

29 Feb 2012 - 12:00am

1.2 million families hold half mainland's liquid assets

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.

23 Dec 2011 - 12:00am

Super-rich want to leave mainland

Nearly half of the mainland's super-rich are considering emigration, according to a survey of people with assets of more than 10 million yuan (HK$12.17 million) that has raised concern about the country's worsening social and business environment.

1 Nov 2011 - 12:00am

Slower growth seen in millionaires ranks

Growth in the number of millionaires in Hong Kong, the mainland and Asia-Pacific as a whole is expected to cool next year as the global economic slowdown takes its toll on stock and property prices.

Merrill Lynch Wealth Management and Capgemini yesterday released their Asia-Pacific wealth report, a regional version of the world report it released in June.

14 Oct 2011 - 12:00am

Newly rich always good for a laugh

A man becomes wealthy and now his aim is to join the aristocracy. He spends ridiculous sums of money on splendid clothes and private lessons on fencing, dancing and philosophy. Everyone can see he's making a fool of himself. Everyone but he.

20 Jul 2011 - 12:00am

Schooling for the lonely hearts club

Who said romance was dead?

China, the world's second-largest economy, has made enormous strides: extraordinary growth, international political clout, not to mention a huge market for black Audis and LV bags. It has also produced about 189 billionaires and almost a million millionaires, creating an enormous pool of eligible bachelors.

18 Jul 2011 - 12:00am

Profiting from property

The rise in property prices over the past year has helped create more US dollar millionaires in Hong Kong than anywhere else in the world, up 33 per cent at 101,300, according to a report by Merrill Lynch and Capgemini. The number of millionaires on the mainland, an important source of property buyers in Hong Kong, rose 12 per cent.

8 Jul 2011 - 12:00am

More millionaires in Asia-Pacific than Europe

The number of wealthy individuals in the Asia-Pacific region has overtaken Europe for the first time - with Hong Kong leading the growth in the number of millionaires.

24 Jun 2011 - 12:00am

China's tourists big spenders now

It used to be the Japanese and Americans who would vie for the best photo opportunity beneath the Eiffel Tower or at the Pyramids. Now mainlanders have become one of the world's most ubiquitous - and cash-laden - tourists.

16 Jun 2011 - 12:00am

Lai See

The ups and downs of living with illegal structures in the NT

So villagers in the New Territories think they should be compensated for taking down the illegal structures on their houses? They also think they should be allowed to beat a three-storey restriction and build six-storey houses.

2 Jun 2011 - 12:00am

Fat cats

More than 9,500 Hongkongers joined the ranks of the city's US-dollar millionaires last year. Given the stories of poverty that fill our newspapers, does this reflect a widening gap between rich and poor? Write to us.

29 Sep 2008 - 12:00am