Hong Kong: richer rich than Singapore and China
A HSBC report has revealed Hong Kong’s wealthiest residents are better off on average than those in Singapore or mainland China.
The report, which surveyed around 2000 well-off individuals aged 18-65 in seven Asian countries, found that Hong Kongers have liquid assets of US$301,289. That’s 40% higher than Singapore ($183,145) and 58% more than the rest of China ($126,537). Mainland China’s wealthy, however, are much younger with an average age of 36 (compared to 44 in Singapore and 48 in Hong Kong).
Young Asians are making the most of equities, usually in local markets. Chinese spent an average $547,739 on equities in 2009, compared to Hong Kong’s $220,795. Rich Hong Kongers keep about a third of their liquid assets in equities, the report noted.
source & article: blogs.wsj.com
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