Beijing, Shanghai, and Hong Kong rank as the top three cities for concentration of wealthy households, each with over 200,000 high-net-worth families, according to a joint report by The Bank of East Asia and Hurun Research Institute. China’s affluent households hold a combined $21.34 trillion in wealth, with about $3.09 trillion expected to transfer to the next generation within a decade, growing to $6.77 trillion in 20 years and $11.33 trillion in 30 years. Ultra-high-net-worth households account for roughly 58% of total wealth. The Greater Bay Area holds about 1.23 million affluent households, while Hong Kong accounts for about 521,000, down 2,400 from the prior year.

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