Source: Shanghai Daily

The number of United States-dollar millionaires in China is set to nearly double in five years, luring private bankers eager to help them invest an expected combined wealth of more than USD7.6 trillion by 2013, Boston Consulting Group said yesterday.

Global wealth declined last year for the first time since 2001, BCG said, but the number of Chinese individuals with household financial wealth of more than USD1 million may grow to 788,000 by 2013 from 417,000 in 2008. Read More »

Avenue Princesse Grace is the most expensive street in the world to buy property, where $120,000 (€84,985) will purchase just one square metre of prime real estate, according to a survey by Wealth Bulletin.

Prime residential property on the top 10 most expensive streets in the world saw their overall value fall by 12% in the last year, the survey found, with European streets faring better than their US and emerging markets counterparts. Read More »

The HNA Group, China's fourth-largest aviation group, launched a business jet company in Shanghai yesterday as it eyes the growing demand from high-end customers during the World Expo to be held in the city next year.
Shanghai Deer Jet Co, with a registered capital of 300 million yuan (US$43.56 million), is based in the city's Pudong International Airport. Initially it will operate two jets. Read More »