China's affluent household wealth hits $21.34t as succession wave looms

Beijing, Shanghai and Hong Kong rank as the top three cities with the richest households.

China's affluent households hold a combined $21.34t (CNY145t) in total wealth, with approximately $3.09 (CNY21t) expected to transfer to the next generation over the next decade, according to a report by The Bank of East Asia, Limited and Hurun Research Institute published on 30 June.

In the next 20 years, this will increase to $6.77t (CNY46t) to $11.33t (CNY77t) in 30 years.

Ultra-high-net-worth households with assets exceeding $14.72t account for $12.36t, or approximately 58% of total wealth, unchanged from the previous year.

Asset protection and intergenerational wealth succession have become key priorities amongst high-net-worth individuals in China, the report found.

Beijing, Shanghai and Hong Kong rank as the top three cities by number of high-net-worth households, each with more than 200,000, following a "3+3+7" city distribution pattern.

The Greater Bay Area holds approximately 1.228 million affluent households, 501,000 high-net-worth households and 28,000 ultra-high-net-worth households.

Hong Kong accounts for approximately 521,000 affluent households, a decrease of 2,400 from the previous year, and remains the most popular destination beyond the Chinese Mainland for high-net-worth individuals seeking investments, according to the Hurun Chinese Luxury Consumer Survey and Hurun Best of the Best Awards 2026.

BEA recorded double-digit growth in 2025 in the number of southbound cross-boundary customers, assets under management and related income, the bank said.

$1 = CNY6.79