Quarter of China’s ultra wealthy in Beijing and Shanghai

Chinese megacities are seeing a slight decrease in households with assets of at least RMB 100 million ($14.8 million), as the country’s private wealth remains concentrated in three places–national capital Beijing, financial centre Shanghai and southern Guangdong province, a technology and export hub, reports the South China Morning Post.

Beijing and Shanghai had a combined 34,700 ultra-high-net-worth (UHNW) households at the start of 2025, accounting for about 27.4% of the countrywide total of 126,500, according to a wealth report jointly released in June by the Bank of East Asia and the Hurun Research Institute.

Beijing contained 18,200 UHNW households and Shanghai had 16,500, both lower than a year earlier, as weaker property prices, volatile markets and slower economic growth weighed on household wealth.