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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

10日,《福布斯》发布2022中国内地富豪榜,本次上榜者的财富总额下跌近四成。

在今年的100位上榜者中,有79人的财富出现下跌、12人重回榜单、4人对财富进行了分割、3人首次上榜,仅2人实现了财富增长。


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?

See large image . . . . . .

Source : Visual Capitalist

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

Source : Statista

Infographic: Migration of the World’s Millionaires

See large image . . . . . .

Source : Visual Capitalist

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

Source : Money Transfers

中国财富报告2022:中国居民总财富近700万亿元

中国居民财富总量近700万亿,居全球第二,增速领先美日。美国居民财富总量常年维持第一,2021年突破1000万亿人民币。

中国居民总资产从2005年77万亿元快速上升至2021年687万亿元,年均复合增速高达14.7%,增速远超美国的5.1%和日本的0.65%。中国家庭户均资产从2010年46.2万元上升至2020年122.0万元,年化增速达10.2%,2021年预计户均资产可达134.4万元。

中国居民财富有多少?

1)总量层面,2021年中国居民财富总量达687万亿人民币,2005-2021年年均复合增速高达14.7%,财富增速远超美日。户均资产约134.4万元,中国居民财富规模仅次于美国。

2)结构层面,金融资产占比较低,实物资产占近七成。2021年中国实物资产占总财富比重高达69.3%,主要表现为房地产,全国住房市值达到476万亿元;金融资产占比30.7%,随着金融创新深化和直接融资比重提升,2005-2021年居民持有的金融资产占比上升了5个百分点,但仍偏低,相比之下2020年全球、北美、西欧、亚洲(不含日本)的金融资产在总资产中占比分别为48%、28%、55%和64%。

3)金融资产中,现金和存款超五成。受“储蓄文化”的影响,中国居民投资偏保守,2005-2008年现金和存款曾高达78%,随着中国金融市场不断深化有所下降,2021年占比仍53%,权益资产和公募基金占比约19%,资产分散性和多元化不足。与国际相比,美国、英国居民资产配置中,德国、日本金融资产结构偏保守,通货和存款占比分别为13%、26%、40%、54%。


Source : 国际日报


Chart: Where the Super Rich Reside

Source : Statista