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Category Archives: Personal Wealth

Charts: China’s Rich People

Source : Caixin and Hurun

Chart: 福布斯2022中国内地富豪榜



Source : 福布斯

Xi’s Vow on Wealth Regulation Ignites Calls for Taxing the Rich

Chinese President Xi Jinping’s pledge to regulate wealth has stirred speculation Beijing may impose property and inheritance taxes on the wealthy in pursuit of its “common prosperity” goal.

Several government-linked economists have highlighted the possibility of major tax reform in recent days.

Liu Yuanchun, the president of the Shanghai University of Finance and Economics, advocated this week for the promotion of real estate taxes. Su Hainan, a researcher at the China Association for Labor Studies, suggested capital gains should be taxed properly given how the “overly fast amassing of wealth by a few people” has triggered “discussions in society.”

Li Shi, a professor at Zhejiang University, floated a possible inheritance tax while speaking to local media about land and taxation reform.

The remarks came after Xi on Sunday promised to “improve the personal income tax system.” In his report to the 20th party congress, the Chinese leader also called for a “well regulated” means of accumulating wealth — all themes tied to “common prosperity,” an ongoing campaign to limit income and wealth inequality that he referred to in his speech.

Speculation of higher taxes fueled market concerns in recent days. China’s benchmark CSI 300 Index of stocks has fallen about 2.2% so far this week as of 11:10 a.m. local time, in line for the biggest loss in more than a month.

Beijing has been considering real estate taxes for at least a decade without imposing any nationwide. A plan to expand a property tax trial was postponed this year amid a housing market crisis.

China has so far exempted individual investors from paying taxes for profit made from investment in securities other than stock dividends. The country hasn’t had a proper inheritance tax, either.

Su argued capital income “shouldn’t be multiple times that of labor income,” according to in a Tuesday report by the Beijing News. The labor studies researcher said that the quick cash people have made from their investments in securities, such as stocks and bonds, has fueled calls for the government to “adjust” things using taxes and other legal means.

Wealth Distribution

Liu Yuanchun — who spoke in May to the Politburo, the party’s top decision-making body — singled out taxes as one of the most important ways in which the system of wealth distribution can be improved. In an interview Monday with local media The Paper, he said that real estate taxes “need to be further promoted.”

The nation’s asset distribution gap can be addressed via policy, according to Li, the Zhejiang University professor, who was quoted by local media outlet Cailian in a Monday report. He said rural land reform could help farmers reap more from property gains, and added that inheritance and real estate taxes should be imposed at the proper time.

Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, called for reforming the hukou system, which is linked to social benefits such as education and health care. Reforms of that system would place farmers on more equal footing with urban residents and help them tap gains from assets such as property, said Liu, whose think tank operates under the Ministry of Finance.

“We can promote common prosperity by shrinking the difference caused by capital gains,” said Liu, according to a separate report by the Beijing News on Tuesday.

Xi is widely expected to secure a precedent-breaking third term in power during the week-long party congress, which happens once every five years.

Source : BNN Bloomberg

Chart: The Global Wealth Pyramid

Source : Statista

Infographic: What Does It Take To Be Wealthy in America?

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Source : Visual Capitalist

Chart: The Fall and Rise of the U.S. Top 1 Percent

Source : Statista

Infographic: Migration of the World’s Millionaires

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Source : Visual Capitalist

Chart: Beijing and Shanghai Have the Most Dollar-Rich Billionaires in the World

Source : Money Transfers








Source : 国际日报

Chart: Where the Super Rich Reside

Source : Statista