The economic boom in China of the past 30 years has Chinese investors made used to getting high returns on their investments, tells China Rich list founder Rupert Hoogewerf to the BBC.
From the BBC:
Rupert Hoogewerf, a Shanghai resident better known by his Chinese name Hurun, compiles an annual list of China’s richest people.
He believes Chinese people in the mainland and Hong Kong are used to the high returns from property and stocks that came with the quick economic boom of the past 30 years.
“The expectations are high in the context of China, and the growth it has been seeing,” he says. “If you’ve got spare cash and you’re not getting 10% or 15% return, that’s not considered good.”
Mr Hoogewerf says mainland China has about 2.7 million individuals with $1m (£640m) or more in total assets.
He says their average age is 40, compared with an average age of 55 for US dollar millionaires in the rest of the world.
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