Knight Frank reports a 23% increase in ultra-high-net-worth individuals in Mainland China over five years, projecting further growth. However, China's global share of UHNWIs is expected to decline as wealth creation rapidly increases in the United States.

Mainland China’s population of ultra-high-net-worth individuals (UHNWIs) – those with assets exceeding US$30 million – has grown by 23 per cent over the past five years to 121,677, and is projected to expand a further 18.8 per cent to 144,602 by 2031, according to Knight Frank. Despite that growth, China’s share of global UHNWIs edged down by one percentage point to 17 per cent this year and was expected to fall further to 15 per cent by 2031, as rapid wealth creation in the United States...