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According to the Hurun Wealth Report 2022 released by the Hurun Research Institute on March 10, Jiaxing in East China's Zhejiang province had 47,800 "wealthy families" that have at least 6 million yuan ($873,140) in total wealth as of Jan 1, 2022, up 1.9 percent year-on-year.

In Jiaxing, there were 18,700 high net worth families that have total wealth of 10 million yuan. A total of 1,250 families were designated as ultra-high net worth families with total wealth of 100 million yuan.

Total wealth included fixed assets (shares owned in listed or unlisted companies, owner-occupied properties, investment properties) and liquid assets (stocks, funds, bonds, deposits, insurance).

As of Jan 1, 2022, the number of China's "wealthy families" with assets of 6 million yuan reached 5.18 million, 100,000 more than the previous year, an increase of 2.1 percent.

The total wealth owned by China's wealthy families reached 164 trillion yuan, up 2.5 percent from the previous year and 1.4 times the nation's annual GDP. Among them, investable assets totaled 67 trillion yuan, accounting for 40 percent of the total wealth.