China’s Wealthy Ranks Shrank in 2022, Hurun Rich List Says

What’s new: China had fewer rich families in 2022 as the world’s second-largest economy suffered from challenges such as the Covid-19 pandemic and the economic slowdown, according to the latest wealth report from the Hurun Research Institute.

The number of “ultra-high-net-worth” families in China — defined as with at least 100 million yuan ($13.9 million) in assets — fell 3.8% to 133,000 as of Jan. 1, 2023, according to the annual Hurun Wealth Report published Tuesday.