Over a quarter of China’s ultra-wealthy concentrated in Beijing and Shanghai: report
Beijing, Shanghai and Guangdong hold most super-rich households as weaknesses in real estate and market volatility weigh on private capital
Chinese megacities are seeing a slight decrease in households with assets of at least 100 million yuan (US$14.8 million), as the country’s private wealth remains concentrated in three places – national capital Beijing, financial centre Shanghai and southern Guangdong province, a technology and export hub.
Beijing and Shanghai had a combined 34,700 ultra-high-net-worth (UHNW) households at the start of 2025, accounting for about 27.4 per cent of the countrywide total of 126,500, according to a wealth report jointly released in June by the Bank of East Asia and the Hurun Research Institute.
Beijing contained 18,200 UHNW households and Shanghai had 16,500, both lower than a year earlier, as weaker property prices, volatile markets and slower economic growth weighed on household wealth.