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In response to the question, “Which international market is your highest revenue growth,” 21.5% of CMOs responded with China. This is up from 16% reported just six months ago (The CMO Survey, February-2012). In response to the follow-up question, “Considering this international market, by what percent did your sales revenue increase in the last 12 months,” CMOs reported a whopping 51.5% increase! Here is a list of some of the strategies that seem to be paying off when selling to and in China.
Of the 960,000 millionaires, 60,000 have been identified as China's “super rich” with assets valued at RMB 100 million or more, up nine percent from 2010.
Beijing boasts the top spot with just over 10,000 “super rich” residents, followed by Guangdong Province with 9,000 and Shanghai municipality with 7,800.
So who is the typical Chinese millionaire? While those with the hefty bank accounts in other countries tend to err on the side of gray hairs, this is not the case in China as the average Chinese millionaire is 39 years old -- 15 years younger than people in similar wealth brackets in the West -- and they live in Eastern China.