Thursday, March 29, 2012

the chinese rich get richer

Once more SOYMB reports on the ever-growing capitalist class in "socialist" China.

The Chinese Luxury Consumer White Paper 2012 suggested that there were 2.7 million high net worth individuals in China with personal assets of more than 6 million yuan ($950,000).

There are 63,500 ultra-high net worth individuals with assets of more than 100 million yuan, an increase of 10 percent.

The average Chinese worker's growth in income have more modestly gone from making less than $1,000 a year to around $5,000 a year, according to the International Monetary Fund.

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