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China, Socialism & Consumer Behavior: 4 million Chinese families own million dollar assets

The more than 4 million Chinese families with million dollar assets in 2008 will reach 7.8 million in 2013, according to a new report by Boston Consulting Group (BCG) published recently […]

The more than 4 million Chinese families with million dollar assets in 2008 will reach 7.8 million in 2013, according to a new report by Boston Consulting Group (BCG) published recently.

However, the regional concentration of these rich families can be obviously seen. More than half of these million dollar asset families are concentrated in 6 regions including Guangdong, Shanghai, Zhejiang, Beijing, Jiangsu and Shandong.

The report also said that the U.S. had the most million dollar asset families at the end of 2008. It was follow by Japan, China, Germany and the UK.

Liang Guoquan, partner and manager director of the Greater China Region of BCG, said that strong economic growth, raising income level and high saving rates will quickly create sustainable fortunes.

via 4 mln Chinese families own million dollar assets – People’s Daily Online.

By Itamar Medeiros

I'm a Strategist, Branding Specialist, Experience Designer, Speaker, and Workshop Facilitator based in Germany, where I work as Director of Design Strategy and Systems at SAP and visiting lecturer at Köln International School of Design of the Cologne University of Applied Sciences.

Working in the Information Technology industry since 1998, I've helped truly global companies in several countries (Brazil, China, Germany, The Netherlands, Poland, The United Arab Emirates, United States, Hong Kong) create great user experience through advocating Design and Innovation principles.

During my 7 years in China, I've promoted the User Experience Design discipline as User Experience Manager at Autodesk and Local Coordinator of the Interaction Design Association (IxDA) in Shanghai.

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