2012-02-13 14:20:12 -

The China High Net Worth Market in 2012 Report released today by leading financial and professional services information provider, VRL, finds that the number of households in China with net wealth of at least US$1m is set to more than double from 850,000 to 2.1m by 2015. Over the same period Investable assets in the country are forecast to rise 156% to US$12T.

James Duckworth, Reports Editor for VRL commented: “This report is based on extensive research and interviews carried out by Xu Jing in Beijing and Shanghai over a number of months, supplemented by information from VRL’s proprietary database. We looked at the market from a micro perspective; for bankers this may mean recalibrating offers and services in response to

the more volatile markets to better meet the expectations of today’s Chinese HNWI’s.”


Attention is paid to which private banking services are valued by HNWI’s in China, and what criteria is used during selection. 48% of participants ranked the established track record, professionalism and reputation of an institution as central to their choice; only 15% of respondents prioritised local knowledge.

The report also found that the profile of the Chinese HNWI is different from global peers. On average, Chinese billionaires are 15 years younger than HNWI’s in other regions, with a higher proportion of postgraduates and females. Chinese HNWI’s have continued to be impacted by the credit crunch, but wealth generation has overtaken wealth preservation as a primary objective.

The China HNW 2012 report is essential reading for private banking institutions with an interest in servicing high net worth individuals and capitalising on this increasingly valuable market. VRL is hosting a webinar on the 14 th February with report author Xu Jing, discussing the profile of the Chinese HNWI, the regional breakdown of wealth in China, market dynamics and constraints, and client expectations. To reserve your place at the webinar, please visit the webinar homepage : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

For further details on VRL reports please email info@vrlfinancialnews.com : mailto:info@vrlfinancialnews.com or visit: www.vrl-financial-news.com/reports : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

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C8 Consulting LtdMichelle Allison01189 001132 michelle@c8consulting.co.uk : mailto:michelle@c8consulting.co.uk