China’s wealthy are getting younger and younger

According to a study by Bain & Co. and China Merchants, China will have 3 million very wealthy individuals by the end of 2021.

According to the study, which defines them as those with assets of more than €1.28 million (i.e., 10 million Yuan), this wealthy group is also younger. In 2020, 42% of them were under 40. Unprecedentedly, senior executives and managers were the most common, representing 43% of this wealthy class. Last year, for the first time, these outnumbered first-generati