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China home to 1.2 million millionaires, US$4.7 trillion in investible assets

The number of high net-worth individuals (HNWI) in China, defined as those with investable assets of RMB10 million (US$1.6 million) or above, tripled from 2006’s 361,000 in five years to nearly 1.2 million in 2011 according to a recent report jointly released by China Citic Bank and the Central University of Finance and Economics in Beijing. The figure is expected…

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