Beijing, Shanghai Lose Ultra-Wealthy Households as Combined Total Falls to 34,700
Updated
Updated · South China Morning Post · Aug 8
Beijing, Shanghai Lose Ultra-Wealthy Households as Combined Total Falls to 34,700
3 articles · Updated · South China Morning Post · Aug 8
Summary
34,700 ultra-high-net-worth households remained in Beijing and Shanghai at the start of 2025, with both cities posting year-on-year declines despite still holding 27.4% of China’s total.
100 million yuan was the report’s wealth threshold, and weaker property prices, volatile markets and slower economic growth were cited as the main drags on household wealth.
126,500 such households were counted nationwide, still heavily concentrated in three wealth hubs: Beijing, Shanghai and Guangdong.
39,680 households were in the Yangtze River Delta, down 1.8%, while Guangdong had 16,700, down 2.3%; the Beijing-Tianjin-Hebei cluster fell 4.8% to 21,700.
58% of Guangdong’s total sat in Shenzhen and Guangzhou, underscoring how China’s private wealth remains clustered around finance, technology, exports and manufacturing centers.