Want.. A report by Swiss banking group Julius Baer says the total wealth of Chinese millionaires will be US$8.25 trillion by 2020, reports the state-run China News Service.
The report said the wealth of Asian millionaires will increase to US$14.5 trillion, with Chinese millionaires making up the majority group.
Julius Baer said the Hong Kong stock market has grown steadily and is stronger than that of Singapore. The accumulated wealth of Hong Kong millionaires will be US$1 trillion in 2020. The nominal GDP of Hong Kong will have increased by 42% from 2010 to 2016 and the wealth of the richest people in Hong Kong will have risen by 56% over the same period, the report said.
Julius Baer said it is holding a positive view of the prospects for Hong Kong's economy, estimating growth of 2.5% this year.