A REPORT released by Hurun Research Institute on Tuesday revealed that there are over 70,500 high-net-worth families in Shenzhen, with each family’s assets are worth over 10 million yuan (US$1.52 million), the Daily Sunshine reported yesterday.

According to the report, Beijing topped the list in China regarding the number of high-net-worth families in the city, followed by Shanghai, Hong Kong and Shenzhen. The number of high-net-worth families in Shenzhen has increased by 4,500 to 70,500 this year.

The report also showed that Guangdong has outnumbered other provinces regarding the number of high-net-worth families for two consecutive years. The number of high-net-worth families in Guangdong is 268,000 this year, an increase of 28,000 compared with last year.

The number of ultra-high-net-worth families, with assets worth more than 100 million yuan, is 121,000 in Greater China, while 71,000 families have investable assets worth more than 100 million yuan.

Beijing, Shanghai and Hong Kong have the most ultra-high-net-worth individuals in Greater China, as one in every 600 people in Hong Kong is a billionaire. (Zhang Yang)