I came across this chart in The Wall Street Journal last week. It summarizes the results of HSBC’s “Affluent Asia Tracker.” According to the survey, the average age of the wealthiest 10% of investors in mainland China is 36, compared to an average age of 48 in Hong Kong.
This statistic reminded me of what McKinsey’s Vinay Dixit told me, about a key difference between Chinese wealthy consumers and their counterparts in developed economies:
“One key difference of Chinese wealthy consumers when compared to their counterparts from other countries is their youth. On an average, they are about 20 years younger than their cousins in US or Japan. We do expect that the wealthy consumers in China will retain this characteristic in the next decade as well.”
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