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China’s HNW population reaches nearly 1.6 million: report

China’s high net worth (HNW) population rocketed to 1.6 million at the end of 2016, an almost ninefold increase from a decade before, while HNWIs’ investable assets reached CNY 49 trillion, according to a report by China Merchants Bank (CMB) and Bain & Company. According to the report, HNWIs’ investable assets will reach CNY 58 trillion this year. Nearly half…

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