China's richest people outnumber Britain for the first time

Wealth of the world's rich is shrinking 20% the global super-rich have slashed by 1/4, the World Wealth Report, released 24th by Merrill Lynch and France's Capgemini consultancy, shows that the financial crisis has reduced the number of wealthy people with more than $1 million trillion in global wealth by 15% last year and the overall wealth of the rich has shrunk by 20% "The recession has the greatest impact on the richest people," Martiner Weimert, deputy director of Capgemini Consulting, said in a statement.　　"The biggest drop in millionaires reduced by 15% mega-billionaires reduced by 25% reports will be millionaires divided into billionaires (assets of more than 1 million dollars) and super-rich (assets at least 30 million dollars)." The report noted that millionaires were about 8.6 million in 2008, down 14.9% from 2007. The super-rich were more frustrated, with 2008 down 24.6% from 2007 to 78,000.　　Their total wealth was reduced by about 23.9%. "The unprecedented recession wiped out growth in 2006 and 2007, bringing the total number and wealth of the super-rich to below 2005 levels," the report said.　　"The decline in the number of wealthy people is the biggest drop in the World Wealth Report 13 report history."　　China ranked first in the fourth over the number of millionaires in the UK, the United States, Japan and Germany still occupy three positions, while mainland China surpassed the UK for the first time in fourth place. The report points out that the current financial crisis continues to permeate the world economy, and China is the leading global economic growth of the important "locomotive." China has shown some growth momentum as domestic stimulus spending is underway.　　The decline in the number of Chinese millionaires is relatively slow compared to other countries. The report shows that the rich in Latin America have an eye-catching performance.　　Brazil's wealthy, for example, have cut their wealth by 8.4%, less than the world's average billionaire.　　"Latin America has lost most of its losses in the regions," said Von Delind, a Capgemini consultant, who may be concerned about the region's rich preference for fixed-income securities and investment-style conservatism.　　The report says millionaires in Hong Kong, China, fell to 37,000 in 2008, down 61.3% per cent from 2007, the most.　　Investment change rich conservative sitting cash reports show millionaires are more favored by the recession for cash, fixed income and local market investment. Dan Santag, head of Merrill Lynch's global wealth management, says many millionaires sit on cash or cash equivalents. "As time progresses, they see their ' net worth ' shrink, becoming extremely conservative.　　"When investing, the rich are" returning to basics ", using assets for relatively safe, simple investment projects, strengthening the control of investment portfolios, and demanding investment simplification and transparency. According to the Xinhua news agency, the legal Evening News, "Rich" who is the authoritative report that China's wealth accelerated to a small number of concentrated, 0.4% of the people in possession of 70% of the wealth of China in the social wealth growth accelerated, while the wealth to the minority in the hands of the trend of concentration. On the Standing Committee of the CPPCC, a recently heldThe "concentration degree" of China's wealth is being eagerly watched by the Standing Committee and members of the CPPCC. "A report by the Chinese authorities shows that 0.4% of the people have mastered 70% of the wealth and the concentration of wealth is higher than in the United States," Mr. Cai said.　　"It is true that China's wealth is flowing to the rich purse at the fastest pace in the world," according to several sets of authoritative data.　　In May 2007, the 2006 Global Wealth Report, released by the Boston consulting firm, noted that 0.4% of households in China accounted for 70% of national wealth, while in mature markets such as Japan and Australia, 5% of households controlled the country's 50%-60% wealth. In August 2008, the 2008 Asia-Pacific Wealth Report, which was jointly issued by Merrill Lynch Group and Europe's largest consulting firm, Capgemini, said that by the end of 2007 China had 415,000 wealthy individuals with more than 1 million dollars in personal assets.　　In terms of average wealth, Chinese millionaires have assets of up to $5.1 million trillion, more than $3.4 million trillion in Asia-Pacific averages. Experts point out that China is now the world's most highly concentrated wealth of countries.　　The concentration of Chinese wealth to the rich is growing at an annual rate of 12.3% per cent, twice times faster than the global average. In China, a report clearly shows the concentration of social wealth in the hands of the people. According to a joint investigation report by the State Council Research Bureau, the Central Party School, the Department of Propaganda, and the Chinese Academy of Social Sciences, as at the end of March 2006, the mainland privately owned property (excluding overseas and foreign property) exceeded 50 million yuan and more than 27310 people, more than 100 million yuan, 3220 people. According to The Times weekly