Chinese president Xi Jinping’s crackdown on corruption and excess is clearly worrying the country’s wealthy, especially if the latest Wealth-X and UBS report is anything to go by.
China ranks a lowly 14th among Asian nations in terms of the growth in number this year of so-called ultra high-net-worth individuals UHNWIs people with $30 million or more in net assets. It is also an unimpressive 15th for wealth growth.
“Although Chinese...