China's millionaires in their millions

There are nearly 3 million individuals on China's mainland with more than 6 million yuan (almost US$1 million) in personal assets, according to an Industrial Bank and Hurun Research Institute report.

The institute said yesterday that the number of these dollar millionaires had risen by 3.6 percent to 2.9 million over the previous 12 months. Over the next three years their numbers will rise to 3.36 million, the report said.

The super-rich club, those with personal assets of more than 100 million yuan, already numbered 67,000 in 2013, up 4 percent from the year before.

Shanghai is home to 14.5 percent of the mainland's dollar millionaires, following Beijing with 16.9 percent, and south China's Guangdong Province with 16.8 percent.

The report was based on a survey carried out in January and February and not only took into account the assets owned by the respondents but also their interests outside work.

"Chinese millionaires are setting aside more time than I expected towards reading and learning, as well as exercise," said Rupert Hoogewerf, the Hurun Report's chairman and chief researcher.

Reading was a popular activity for the rich who devoted 10 hours a week on average to books, while it was 15 hours for the super-rich.

The rich also liked to take training courses and attend exhibitions, forums and seminars.

The top three activities for the rich were travel, food and sports. Up to 80 percent of respondents had their health examined every year and exercised for three hours a week, mostly jogging but also playing badminton and swimming.

About 31 percent of the rich said they were actively involved in environmental protection, with 87 percent of the total expressing concern over pollution.

The report also said that the younger people in its survey were increasingly using social media to spread awareness of charitable causes.

A third of respondents said they held religious beliefs — 23 percent were Buddhist and 6 percent Christian — while 60 percent of the super-rich said they were religious.