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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

Originally from Brazil, Itamar Medeiros currently lives in Germany, where he works as VP of Design Strategy at SAP and lecturer of Project Management for UX at the M.Sc. Usability Engineering at the Rhein-Waal University of Applied Sciences .

Working in the Information Technology industry since 1998, Itamar has helped truly global companies in multiple continents create great user experience through advocating Design and Innovation principles. During his 7 years in China, he promoted the User Experience Design discipline as User Experience Manager at Autodesk and Local Coordinator of the Interaction Design Association (IxDA) in Shanghai.

Itamar holds a MA in Design Practice from Northumbria University (Newcastle, UK), for which he received a Distinction Award for his thesis Creating Innovative Design Software Solutions within Collaborative/Distributed Design Environments.

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