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Chinese millionaire will accounts for over half of Asia total weath in the next five years

UpdateTime:2015/12/14  Hits:

On Wednesday ,the weath report by Julius Baer which is Switzerland's largest private bank released that in the next five years, Chinese millionaire will possess 8.25 trillion dollars. This will accounts for over half of Asia total weath

This is the fifthWealth Report made by theJulius Baer for 11 Asian cities and millionaire (or "HNWI") is defined whose possess excludetheir primary residence, but holds more than $ 1 million, or more.Althoughthe CNYhas devaluedthis year, however, based on thethe assumptionsof2017--2020GDP growth rate of about 10 percent and the CNY upvaluation predict against the US dollar.the poll shows thatChina remains the largest area of wealth creation.

Justlike gold, its prospects isbetterwhen the RMB becomesan internationalreserve currency, ." Kanghong Liao said,the president of Julius Baer Asia.Thebank expects the CNY-USDexchange rate will be 5.9in 2020, compared with 6.1in 2014.Liao believes the Chinese government still has plenty of room to ease monetary policy and fiscal policy, so as to promote economic stability and make Chinese HNWI wealth beyond the $ 8 trillion in 2020.

As for Hong Kong, the report expected in the next five years HNWIs wealth will reach $ 1 trillion,increasingby 42%this yearThe report points outin recent years, Hong Kong's stock index perform better than Singapore market.Inaddition to also benefit from the strong trade and economic tieswithChina. Therefore, even if Hong Kong’s GDP from2010 to 2016 increased by 42%, those HNWIwealth increase up 56% over the same period.

In addition, index of high-qulity reflectthe standard of livingmade by Julius BaerIndex, Shanghai is the most expensive city overall, Hong Kong and Singapore were ranked second and third.the investigation scope covers20 kindsof goods and services into the 2015-year Pricesincreasingthe mostlyis jewelry, up 5.32%,followed bypiano,and the third is the wedding.And legal services andboarding schools rank fourth and fifth .

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