Wealth Landscape in China: Market Sizing and Opportunities to 2022
Based on our proprietary datasets, this report analyzes China’s wealth and retail savings and investments markets, with a focus on the HNW segment. This includes overall affluent market size (both by number of individuals and the value of their liquid assets) as well as a breakdown of liquid vs. illiquid HNW holdings. The report also provides analysis of the factors driving liquid asset growth, including a breakdown and forecast of total retail savings and investments split by asset class.
In 2018, 40.1 million individuals were considered affluent (mass affluent and high net worth [HNW]). The two population segments collectively held 86.7% of the country’s total onshore liquid assets in 2018, with the mass affluent segment alone holding more than half of total liquid assets. Thanks to lower economic productivity, wealth growth will be somewhat less pronounced over the forecast period to 2022 than in previous years. However, strong predicted retail investments growth - led by a positive mutual fund performance - will maintain a faster wealth growth rate than in the wider region. With a 9.5% compound annual growth rate (CAGR) for affluent investors’ liquid assets expected over the forecast period, China remains the envy of many of its Asian peers.
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