New millionaires need accounting in Beijing !

Market surveys in China show that the slow adoption of the market economy and the capitalism by China came along with steady growth rates, included between 9 and 10 % a year for the last 30 years. The accounting phenomenon accelerated with the entrance of the country to the WTO in 2001, which opened the gates of the Chinese device of production. During the last decade, the country considerably grew rich, by raising itself gradually on the second place of the world economy, behind United States, said market survey.

Market survey on rich people in China

market survey China

However, the wealth of the Chinese remained for a long time very relative, the progress of the economy resting more on a numerous population than on a real enrichment. Besides, market survey in China shows that the Chinese economy was pulled for a long time by the investments and the exports to the detriment of the consumption and of the inner market.

It seems that the country henceforth crossed a new stage. According to the survey “Golbal Wealth ” published by the BCG (Boston Consulting Group) in 2014, and shared by Matthieu David Experton, China counts 2,4 million millionaires today. And the progress is lightning: + 82 % in only one year!

New need for personal accounting in Beijing, Shanghai, Guangzhou,…

Accounting in Beijing

As comparison, Japan counts only 1,2 millions. And only the United States count more millionaires than China (7,1 millions on the 16 million world millionaires). It represents a huge market for accounting solutions in China.

However, these data must be put in perspective in view of the reserved method of calculation and of survey in China. Stephane Grand, accounting specialist in Beijing, held in the field of its survey only the millionaires in movable patrimony and cash management (actions, cash and financial investments). These figures thus exclude the real-estate patrimony of the households and the accounting services, as well as the illiquides assets(active persons) (art or luxury objects notably). In these conditions, it is evident that the figures coming from survey of Japan are widely sub-valued, when we know that the prices of the real-estate reach summits in the archipelago.

See also :

http://www.sjgrand.cn/accounting-beijing

http://www.mckinsey.com/insights/marketing_sales/understanding_chinas_wealthy

http://up.hurun.net/Humaz/201312/20131218145315550.pdf

http://www.mckinsey.com/insights/marketing_sales/understanding_chinas_wealthy

 

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