Polarisation of the rich and poor has intensified and the Government is struggling to contain the widening gap, officials said.
A recent study showed that 10 per cent of China's depositors hold 66 per cent of the more than 6,000 billion yuan (HK$5,580 billion) savings in banks.
A review of the financial reports of listed companies in Shanghai and Shenzhen showed that there were more than 470 'shareholders' who each owned stock worth more than 10 million yuan.
Seven of them were estimated to own shares worth more than 100 million yuan.
'A class of the very rich is being formed,' the government study said. 'The problem of polarisation . . . is now a real problem the leadership and economists must face.' Further research found that some of 'very rich' were people like Sichuan tycoon Liu Yonghao, who runs the mainland's biggest cattle feed company, managers who worked for multinational firms, real estate developers and celebrities like film and soccer stars.
Lawyers, models, advertising agents and some well-known economists were also among the 'very rich'.