Credit Suisse: Chinese household wealth will leap to second place in the world by 2015

China Economic Network Beijing, October 9 (Miaoyi) investment bank Credit Suisse, a subsidiary of the Research Institute in Friday, said the report, Institute　　By 2015, China's household wealth is expected to grow from $16.5 trillion trillion to $35 trillion trillion, overtaking Japan as the world's second-highest household wealth, after the US. The report said that while China's gross domestic product had overtaken Japan as the second-largest since the second quarter of this year, the country's total household wealth, based on data from 2010 years ago, still lagged behind Japan's third-largest in the world.　　Figures show that as of the end of 20106, China's household wealth was 16.5 trillion U.S. dollars, while Japan was 21 trillion U.S. dollars, the United States for 54.6 trillion U.S. dollars. The report shows that, as a leading developing country with a global economic growth rate, India's household wealth is now equal to one-fifth of China's.　　But it is expected that in the next 5 years, India's household wealth will rise sharply, from the current 3.5 trillion U.S. dollars to 6.4 trillion U.S. dollars. The report, written by Credit Suisse Institute and two top global family wealth research experts Anthony Shorrocks and Jim Davies, studied the family wealth situation in more than 200 countries around the world and made a horizontal comparison.　　The report notes that the total wealth of 4.4 billion adults worldwide has risen by 72% since 2000 and now amounts to $195 trillion. "China's strong economic growth over the past decade has driven the rapid expansion of average household wealth in most Asia-Pacific countries by as much as 10 times times the global average," Osama Abbasi, chief executive of Credit Suisse Asia Pacific, said at the conference.　　He pointed out that the global emerging middle-class consumers of Asia-Pacific countries, the global wealth growth is the main source of power. The report notes that global household wealth will grow by 61% to $315 trillion trillion by 2015, driven by strong expansion of emerging market economies. The middle class of the wealth Pyramid, which includes 1 billion of the world's fastest-growing regions, has one-sixth of the world's wealth, and a total of nearly 60% or 587 million people from the Asia-Pacific region at the middle of the wealth pyramid.