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China produces fewer millionaires as economy slows
China's millionaires, a symbol of the country's growing wealth, increased at their slowest rate in five years in 2012 as the economy and stock market stumbled, a survey showed. The number of millionaires -- defined as those with personal wealth of at least 10 million yuan ($1.6 million) -- rose just three percent year-on-year to 1.05 million, said the independent Hurun Research Institute and consultancy GroupM Knowledge. The number of "super-rich" Chinese -- with personal wealth of at least 100 million yuan -- went up only two percent to 64,500, also the slowest pace in five years, according to the survey released ... (full story)
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