A local resident looks at a Morgan sport car during the opening of China's first Morgan sport cars showroom in Shanghai. (Photo : Reuters)
A growing number of China’s wealthy people are setting their sights to invest in media, tech and telecom sectors based on a survey, the China Daily reported.
A report released by Forbes magazine and Credit Ease Corporation showed that private investors in the country can avail funds that total 114.5 trillion yuan ($18.46 trillion) at the end of the year.
The report, which was based on a survey conducted from January to March on 1,149 "mass affluent" Chinese, identified those who have available funds for investment between the amount of 600,000 yuan and 6 million yuan.
The survey showed that more than 60 percent of them are between the ages of 30 and 49.
According to the results, the year-on-year increase reached 12.8 percent, with private funds for investment in the sum of 106.2 trillion yuan at the end of last year.
The report added that the number of "mass affluent" Chinese reached 13.9 million last year, an increase of 15.9 percent, which is expected to rise to 15.3 million by the end of this year.
Aside from the trade, manufacturing and finance sectors, more affluent Chinese were attracted to media, technology and telecom sectors last year.
"China is experiencing an economic transition from traditional sectors to emerging ones, which is influencing the wealth flow," Shi Guowei, research director at the Chinese edition of Forbes magazine, was quoted as saying.
The report said that 51.7 percent of respondents came from private enterprises, while 13.3 percent account for those from foreign companies, a drop of 1.9 percent compared with last year.
The report furthered that the three most popular areas for investors were banks' financial products, equities and funds, with real-estate investment following in fourth place for the first time.
