Table of Contents
- CHAPTER 1 EXECUTIVE SUMMARY
- Introduction
- What is this report about?
- Who is the target reader?
- The market opportunity
- At first glance the Chinese market looks to be attractivefor wealth
management
- Economic conditions have been favourable
- The market still has room for growth through development
- The potential wealthy population is large
- The total population pool is massive by global comparisons
- The number of individuals with more than USD100,000 hasgrown rapidly
- Average affluence of the wealthy population has increased
- There are issues to consider for foreign entrants
- Competitive interest is intensifying
- The investment/banking environment hinders growth in themedium-term
- Customer attributes will make things difficult for foreignplayers
- A regional focus
- Wealth managers need to approach China from a regionalperspective
- Wealth differs considerably by region
- National inequality exists
- And regional inequality is very noticeable
- There are four major cities for wealth management
- Savings have grown rapidly in these cities
- And total affluent liquid assets have grown considerably
- There are four further Tier II cities with potential
- Future decoded
- The wealth management opportunity will continue to growdespite the
restrictions placed on foreign competitors
- Macroeconomic growth will continue
- Wealthy individuals will continue to prosper
- CHAPTER 2 INTRODUCTION
- What is this report about?
- Who is the target reader?
- How to use this report
- CHAPTER 3 THE MARKET OPPORTUNITY
- At first glance the Chinese market looks to be attractivefor wealth
management
- Economic conditions have been favourable
- Historic growth levels have been spectacular
- The market still has room for growth through development
- The potential wealthy population is large
- The total population pool is massive by global comparisons
- The number of individuals with more than USD100,000 hasgrown rapidly
- Average affluence of the wealthy population has increased
- But there are issues to consider for those looking tooffer wealth
management propositions
- Competitive interest is intensifying
- Foreign players remain restricted in their acquisitions ofChinese
banks
- Investment levels are at an all-time high
- The average value of investment is increasing
- The number of opportunities is decreasing
- The investment/banking environment hinders growth in themedium-term
- Restrictions on securities, banking and insurance products
- No offshore investment permitted
- The domestic investment markets are not favourable
- Customer attributes will make things difficult for foreignplayers
- Property remains the investment vehicle of choice
- Demographic groups will present wealth managers with a'new' market
- CHAPTER 4 A REGIONAL FOCUS
- Wealth managers need to approach China from a regionalperspective
- Wealth differs considerably by region
- National inequality exists
- And regional inequality is very noticeable
- There are four major cities for wealth management
- Savings have grown rapidly in these cities
- And total affluent liquid assets have grown considerably
- There are four further Tier II cities with potential
- The Tier II cities are close to principal cities
- Ningbo has become attractive for foreign investment
- Hangzhou is the preferred residence of the wealthy
- Wenzhou is home to many private enterprises
- Taiyuan is the coal mining center of China
- CHAPTER 5 FUTURE DECODED
- Wealth management interest will continue to grow despitethe restrictions
placed on foreign competitors
- Macroeconomic growth will continue
- Wealthy individuals will continue to prosper
- Liquid assets will grow at a rate of 10.5% averagedannually over the
2005-2009 period
- The number of wealthy individuals will reach 6.7 millionby the end
of 2009
- CHAPTER 6 APPENDIX
- Data
- Definitions
- AAGR
- CAGR
- Gini index
- Liquid assets
- Liquid asset bands
- Research methodology
- The Global Wealth Model
- The UK sub model
- Asia-Pacific sub model
- Forecasting methodology
- Datamonitor's wealth numbers compared with others' numbers
- Bespoke Wealth Market Sizing
- Further reading
- Datamonitor Asia-Pacific Wealth Reports
- Datamonitor Asia-Pacific Insight Reports
- Datamonitor Global Wealth Service: Competitor Tracking
- Datamonitor Financial Services Consulting
- Asia-Pacific contacts
- List of Tables
- Table 1: Investment in local banking institutions byforeign players in
China is increasing in value, 2001-2006
- Table 2: Underlying macroeconomic factors in China,2005-2009
- Table 3: China's real GDP growth over the last decade,1996-2005
- Table 4: GDP - value added of industry sectors, 2004
- Table 5: Value of liquid assets owned by Chineseaffluent individuals,
2001-2005e
- Table 6: Share of affluent liquid assets and affluentindividuals by
asset band, 2005e
- Table 7: Number of Chinese affluent individuals,2001-2005e
- Table 8: Average savings deposits per capita and averagesalary by city,
2004
- Table 9: Outstanding amount of savings deposits of urbanand rural
residents, 2001-2004
- Table 10: Total retail liquid assets by city and growthrates over the
2000-2004 period
- Table 11: Value of liquid assets, number of affluentindividuals and
affluent population as a percentage of total in four majorcities
- Table 12: Growth of affluent population as a percentageof the total
population in four major cities, 2000-2004
- Table 13: Total retail liquid assets in China,2000-2009f
- Table 14: Liquid assets owned by Chinese affluentindividuals, 2005e-2009f
- Table 15: Number of Chinese affluent individuals,2005e-2009f
- Table 16: Wealth markets that have been modeled usingthe Global Wealth
Model
- List of Figures
- Figure 1: Investment in local Chinese institutions hasincreased rapidly
in the last two years
- Figure 2: Both the Shanghai and Shenzhen stock exchangeshave been on a
steady decline over the last three years
- Figure 3: Average savings per person and averagesalaries vary
dramatically by city across China
- Figure 4: Total savings deposits outstanding of the fourcities have
grown rapidly in recent years
- Figure 5: It is Shanghai's affluent population that hasgrown most
rapidly over the 2000-2004 period
- Figure 6: The major cities of interest are all on ornear the east coast
of China suggesting a wealth management business wouldnot need to stretch
nationwide
- Figure 7: Wealthy individuals will grow in number at anaverage rate of
11.5% over the 2005-2009 period
- Figure 8: Methodology diagram and report structure
- Figure 9: China's real GDP growth has averaged 8.4% overthe last 6 years
- Figure 10: China's services sector is underdevelopedeven compared to
other developing economies
- Figure 11: China's wealthy population has increased insize rapidly over
the last four years
- Figure 12: The more affluent the individuals, the largerthe share of
wealth they own
- Figure 13: Investment in local Chinese institutions hasincreased rapidly
in the last two years
- Figure 14: Both the Shanghai and Shenzhen stockexchanges have been on a
steady decline over the last three years
- Figure 15: Average savings per person and averagesalaries vary
dramatically by city across China
- Figure 16: Total savings deposits outstanding of thefour cities have
grown rapidly in recent years
- Figure 17: Total retail liquid assets of the four citieshave grown at
rates in excess of 15% compounded annually over the2000-2004 period
- Figure 18: Beijing and Shanghai are home to both thelargest number of
affluent individuals and the largest amount of affluentassets, but it is
Shenzhen that has the highest proportion of affluentindividuals
- Figure 19: It is Shanghai's affluent population that hasgrown most
rapidly over the 2000-2004 period
- Figure 20: The major cities of interest are all on ornear the east coast
of China suggesting a wealth management business wouldnot need to stretch
nationwide
- Figure 21: Liquid wealth of affluent individuals willgrow strongly over
the 2005-2009 period
- Figure 22: Wealthy individuals will grow in number at anaverage rate of
11.5% over the 2005-2009 period
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