The Hurun Research Institute and independent financial advisor Gao Fu Club jointly released the Shanghai Wealth Report 2012, an authoritative report identifying and analyzing the private sector in Shanghai.

• Pudong is the richest postcode in Shanghai, followed by Changning District, which is also the richest postcode in Puxi.
• Shanghai today has 370,000 dollar millionaires, 140,000 individuals with RMB 10m up 6.1% and 8,200 individuals with RMB 100m, up 5.1%.
• Pig Feed King Liu Yongxingand Street Fashion King Zhou Changjian are the richest individuals living in Shanghai with personal fortunes of RMB 41bn and RMB 32bn respectively.
• Property Tycoon Ye Lipeiis the richest Shanghainese, followed by art collecting husband and wife Liu Yiqian and Wang Wei with personal wealth of RMB 17bn and 11bn respectively.
• Property Developer Xu Jiankangis the most generous philanthropist living in Shanghai, donating RMNB 30.1m last year.  Shi Jianxiang is the most generous Shanghainese, donating RMB 25.3m last year.
• Shanghai today has 250 individuals with RMB 2bn (equivalent to US$320m), of which 82 are on the Hurun Rich List 2011.  Shanghai has 90 dollar billionaires, of which 28 are ranked on the Hurun Rich List 2011.
• Property, manufacturing and investments are the top three sources of wealth for the Shanghai billionaires.
• Shanghai is attractive for women entrepreneurs with 23% of the richest 82 being female compared with only 15.5% of the Hurun Rich List 2011.
• Shanghai attracts entrepreneurs from other provinces. Of the richest 82, 59 are from other provinces, mostly Zhejiang.
• Many overseas Chinese have made Shanghai their preferred base, led by Taiwanese Tsai Eng-meng, Indonesian Chinese Elijah Widjaja and Vincent Loh of Hong Kong.
• The most successful Shanghainese outside Shanghai live in Hong Kong and Beijing.
• Metersbonwe, Home Innand Ctrip are the three most valuable private homegrown brands headquartered in Shanghai.
• Shanghai's youngest self-made Renminbi billionaire is 32-year old basketball player Yao Ming.
• This is the second year of the Shanghai Wealth Report. 

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, "Beijing may be the capital of China, but Shanghai is the capital for international Chinese, with more of the top international Chinese entrepreneurs settling here than any other city."

Gaofu CEO Juliet Zhu says: "China rich needs international personal wealth consulting with customized solution.  We wish to be their partner as a professional third party wealth management institute with global experience and China practice. Gaofu limited will lead the developing China wealth management industry to an objective, healthy, consistent way following the west."

Shanghai Millionaires' Overview

There are 370,000 individuals with RMB 6m (equivalent to US$950,000) living in Shanghai today, or 1 in 65 individuals, in a city with a population of 23 million.

140,000 individuals in Shanghai with personal assets worth RMB10 million (USD1.6 million), an increase of 6.1% on last year, which accounts for 13.7% of China's high net worth individuals.

Furthermore, there are 8,200 super-rich individuals with assets worth RMB100 million (USD16 million), up 5.1% from last year, and slightly below the 8.2% GDP growth Shanghai recorded in 2011.

Shanghai's super-rich individuals account for 12.9% of that throughout China.

Shanghai ranks third in the China in terms of number of rich and super-rich individuals.

Size of Luxury Consumer Market in Shanghai



Sources of Wealth

Business Owners make up 50% of wealthy individuals in Shanghai. The Shanghai business owner's company assets typically account for 75% of his total personal assets, he owns properties worth more than RMB 2 million, vehicles valued at more than RMB 200,000 and more than RMB 300,000 of investable assets (including cash and securities).

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