China’s wealthiest got richer during the first year of the pandemic, says a recent report that follows an earlier study that indicates the top 2 percent of the population owns 80 percent of the country’s total wealth.
As of Jan. 1, 2021, wealthy Chinese families—those with total assets exceeding approximately $942,000—had a combined wealth of about $25.1 trillion, roughly 1.57 times China’s GDP in 2020, said China’s Hurun Research Institute’s 2021 wealth report released April 14.
There was a 9.6 percent increase in the combined wealth of those affluent households in 2020 over the previous year, exceeding China’s 2020 GDP growth of 2.2 percent, the report said.
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