90% of Chinese millionaires are confident in China’s

economic development

Emigration numbers down to lowest in 5 years

Appetite for luxury up 20%

Hurun Report releases Chinese Luxury Consumer Survey and Hurun Best of the Best Awards 2017

Appetite for luxury by Chinese luxury consumers bounces back 20%, returning to its 2013 level.

Apple is the gift of choice for Chinese New Year, followed by Cartier and LV. Moutai and Chanel shoot into Top 5. Samsung drops out this year’s list.

The Hurun China Business Confidence Index, an index measuring the confidence in the economy going forward two years, rose for the fourth consecutive year: over 90% are confident in the economy going forward.

Investment: Real estate overtakes equities as the most popular investment, partly due to the booming housing market and poor stock performance in China last year. 64% believe a stable price rise in real estate in next two years. Equities dropped 5% to the second place followed by fixed income.

Immigration: 44.5% are not considering emigration, hitting a record high. Having said that, almost half are still considering emigration.

Travel. Chinese luxury consumers continue to be extremely busy, away on business trips for 8 days a month on average. Despite this, they take 10 days and super-rich take 15 days holiday respectively and go abroad 3.4 times a year on average.

Luxury travel destination: Maldives moves ahead of France into the top slot for the first time ever. US drops into third place. UK shoots into the sixth on the back of a cheaper pound.

Collecting: There is a rising number of people who enjoy collecting this year, up 5%. Chinese ink painting and watches continued to lead the way.

Hurun Happiness Index. Overall very happy, but slightly down to 7.7 points out of 10. Work satisfaction lower than private life satisfaction. Super rich score higher on Happiness Index.

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Health: Jogging, golf and swimming still hold their leading position as the preferred sports for men, with yoga the preferred sport for women.

US is the destination of choice to educate overseas. UK ranks second followed by Canada, which overtook Australia.

Shanghai, Beijing and New York are considered to be the most important cites in next 10 years.

(19 January 2017, Shanghai) The Hurun Research Institute today released the Hurun Best of the Best Awards 2017, based on the results of the Hurun Report Chinese Luxury Consumer Survey 2017. This is the thirteenth consecutive year Hurun Research has revealed the brand preferences, consumption habits and lifestyle trends of China’s wealthiest individuals. Widely regarded as an ISO9000 for China’s luxury sector, the CLCS has become a benchmark for the luxury sector.

Between Sep and Dec 2016, the Hurun Research Institute, a wholly-owned subsidiary of Hurun Report Inc, surveyed 449 Mainland Chinese ‘millionaires’, defined as individuals with a personal wealth of RMB 10 million (equivalent to USD 1.4 million). Amongst them were 62 super-rich (12%), defined as individuals with wealth of RMB 100 million (USD 14 million). Their average wealth was USD 6.7 million; the average age was 38 years, one year older than last year; the ratio of men to women surveyed was 6:4. Respondents were from more than 40 cities, 60% coming from the first tier cities of Beijing, Shanghai, and Guangzhou. The Hurun Research Institute has carried out this survey now for 13 years running, surveying 6101 millionaires making this the largest and most authoritative survey of its kind in China.

This press release is an executive summary of the Chinese press release. For the full press release, please refer to the Chinese-language version on the www.hurun.net.

GiftingApple continues to be the preferred brand for gifting by men. Cartier came up to second and LV dropped to third. Moutai shoot into Top 5, followed by Chanel and Bulgari. Gucci and Dior both saw a sharp decrease this year.

The ‘Big Three’ brands for gifting by women were again Chanel, LV and Apple, however in a different position. LV climbed up to take the crown, Apple was second, while Chanel

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lost its first position and down to third. The Star Performer: Bulgari has maintained an upward trend this year, rising 5 positions to the fourth.

Best Brand for Gifting by Men                  Best Brand for Gifting by Women

Brand% of

respondentsBrand

% of respondents

1 - Apple 25.2% 1↑ LV 15.6%2↑ Cartier 11.0% 2↑ Apple 14.1%3↓ LV 7.1% 3↓ Chanel 11.3%4↑ Moutai 5.6% 4↑ Bulgari 5.7%5↑ Chanel 5.5% 5↓ Cartier 4.2%6 * Burberry 3.3% 5↑ Hermes 4.2%7 ↑ Bulgari 3.2% 7 * Montblanc 2.8%8 * Wuliangye 3.1% 7↑ Dior 2.8%9 - Hermes 2.4% 9↓ Gucci 1.4%10↓ Gucci 1.6% 9 * Prada 1.4%11↓ Dior 1.5%

Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

↑ Ranking up ↓ Ranking down - no change * New to the Top 10

Watch, Electronic product and red wine are still top 3 of the best gifts for men. Jewelry continues to be the preferred gift for women, followed by cosmetics and accessory. Almost a half of respondents chose health product for elderly. For children, electronics was still the top option. Overall, category of gift giving didn’t change a lot and gift giving has maintained an upward trend. Especially, travel vouchers saw a significant increase this year.

Gifting by categoryBest Gifts for Men

RatioBest Gifts for Women

Ratio

1 - Watch23.0% (+1.8%)

1 - Jewelry26.6% (-2.5%)

2 -Electronic Product

15.0% (-1.5%) 2 - Cosmetics 17.8% (+2%)

3 - Red Wine 10.9% (-3.1%) 3 - Accessory 16.9% (+1.5%)

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4↑ Cigars10.2% (+2.5%)

4 -Fashion Apparel

12.5% (+0.6%)

5↓Premium

baijiu 9.1% (+1.2%) 5↑ Travel vouchers

6.2% (+1.9%)

6 -Imported

spirits8.8% (+1.3%) 6 - Watch 5.5% (-0.9%)

7 - Apparel 6.2% (+0.3%) 7↓Electronic products

3.7% (-2.8%)

7↑Accessorie

s6.2% (+1%) 8↑ Art

4.2% (+1.5%)

9↑Travel

voucher4.3% (-0.1%) 9↓ Gift cards

4.0% (+1.1%)

10↓ Art 3.7% (-1.4%) 10 - Health Product 1.7% (-0.1%)Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

↑ Ranking up ↓ Ranking down - no change * New to the Top 10

Best Gifts for Elderly

RatioBest Gifts for Children

Ratio

1 - Health Product 34.8% (-1%) 1 -Electronic Products

38.0% (-2%)

2↑ Travel voucher 24.2% (+5.7%) 2 - Toys32.3% (+6.2%)

3↓Medical Products

19.6% (+0.2%) 3 -Fashion Apparel

15.0% (+2.8%)

4 -Gift Card Voucher

5.8% (+0.2%) 4 - Watch 5.4% (-0.8%)

4 - Alcohol 5.8% 5 - Car 3.2% (+0.3%)Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

↑ Ranking up ↓ Ranking down - no change * New to the Top 5

The Hurun Business Confidence Index noted that over 90% respondents are positive on the Chinese economy. However, only 28% are ‘extremely confident’ in the economy, down from the 35.8% of 2 years ago.

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CMB was crowned best credit card and HSBC topped best foreign bank for personal banking both for the thirteenth consecutive year. Alipay is the preferred method of payment, overtaking credit cards, Wechat and cash.

2010 2011 2012 2013 2014 2015 2016 20170%

10%

20%

30%

40%

50%

60%

70%

56%48%

28% 28% 31%

36%

27%28%

43%

40%

64%

64%58%

59% 60%

63%

1%

12%

8% 8%

11%

5%

13%

9%

2010-2017 Hurun Business Confidence IndexExtremely confident Confident Not confident

Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

Blue: Extremely confident Yellow: Confident Grey: Not confident

Personal InvestmentsReal estate overtakes stock to become the most popular investment for respondents, which can be contributed to a booming housing market in China last year. 64% of respondents believe a stable price rise in real estate in next two years. Stock dropped 5% to the second place followed by fixed income with 11%.

28% regard themselves as the most trusted financial advisor, followed by private banks with 22% and friends with 18%.

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ConsumptionTravel, luxury good and children’s education are still the highest expense for respondents. Children’s education overtakes luxury good to the second place.

TravelTravel is the number one leisure activity for Chinese richest. Average travel time increased 3 day per month, with 10 days.

Maldives was crowned the preferred international luxury travel destination.

Domestically, Sanya is still the number one preferred luxury travel destination for the seventh consecutive year.

Preferred International Luxury Travel Destination

Preferred Domestic Luxury Travel Destination

1↑ Maldives 1 - Sanya2↓ France 2↑ Tibet3↓ US 3↓ Hong Kong4↑ Australia 4↑ Yunnan5↓ Japan 5↓ Taiwan6↑ UK 6↑ Macau7 - Hawaii 7↑ Qingdao8↓ Dubai 8 - Hangzhou9↑ Canada 9↑ Changbai Mountains10↓ Switzerland 10↑ Xiamen11↓ Italy 11↓ Xinjiang12↑ New Zealand 12↑ Dalian13↓ Thailand 13↓ Beijing14 - Singapore 14↓ Sichuan15 * Germany 15↓ Shanghai

Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

↑ Ranking up ↓ Ranking down - no change * New to the Top 15

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Health ManagementJogging is the most popular sports by Men’s richest, while yoga came top of most preferred sports by women.

Preferred Sports by Men Preferred sports by WomenSports Ratio Sports Ratio

1 - Jogging 21.0% 1↑ Yoga 22.5%2↑ Golf 19.2% 2↓ Jogging 21.5%3↓ Swimming 18.2% 3 - Swimming 12.3%4↑ Climbing 8.5% 4 - Golf 8.9%5↑ Skiing 6.1% 5 - Skiing 7.3%5↓ Badminton 6.1% 6↑ Badminton 6.3%7↓ Tennis 4.9% 7↑ Diving 6.0%8↓ Diving 4.2% 8↑ Climbing 5.1%

9 -Horse Riding

3.0% 9↓Horse Riding

4.4%

10 - Yoga 2.6% 10 - Tennis 1.9%Source: Hurun Best of the Best – Chinese Luxury Consumer Survey 2017

↑ Ranking up ↓ Ranking down - no change

17% of respondents don’t drink.

Social ResponsibilityTaxation bounced back to become the preferred way for entrepreneurs to implement social responsibility, followed by philanthropy.

Two Tencent founders, Pony Ma and Chen Yidan, donate US$2.1bn and US$615m, becoming China’s Most Generous. He Qiaonv of Orient Landscape ranks the third, her US$450m donation makes her the most generous female philanthropist. (Reference: Hurun Philanthropy List 2016)

Information SourceSocial network remains as the main source of information. WeChat makes more people relying on digital media, which is especially obvious within under 30 year old respondents.

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Luxury CPI

In 2016, luxury property price has increased most reached 13% which is close to the gains of 2014 compared to last year 1.9% decline; followed by healthcare, which is increasing for three consecutive years, up 11.7% this year; top school education price has been in uptrend for one decade and increase from last year which reach 6.2%; this year, luxury travel market has recovered the uptrend compared with the last two years, rose 5%. Wedding market, which enjoyed the highest increase last year, has stably increased by 5% this year. Watch and Jewelry has overall increased 3.9% after a fall of 3.6% last year; luxury accessories and cosmetic products have increased 2.9% after a strategic reduction of 2.9% last year; Leisure entertainment has rose by 1% this year after 0.6% declined last year; jets and yachts has recovered 1% after a bigger declined by 10.5% last year; Prices of luxury liquor and tobacco and luxury cars are the only two categories which have declined for two consecutive years, by 0.2% and 1.3%, respectively.(Source: Hurun Luxury CPI 2016)

Market SizeBy May of 2016, the number of dollar millionaires in mainland China reached 3.38 million, an increase of 240 thousand from previous year, an increase of 7.6%.

Hurun Rich List 2016 swells to 2056 individuals, up record-breaking 179 with same cut-off of CNY 2bn (US$310m) as last year. 594 dollar billionaires, despite of a slight decrease, propelling China ahead of the US for the second consecutive year. Greater China now has 754 dollar billionaires, after adding in 94 billionaires from HK, Taiwan and Macao. This compares with only 535 in the US, according to the most recent Hurun Global Rich List.

Guangdong is the preferred city of residence for most of 10 million RMB China’s HNWIs, with 240 thousand, increased by 17.7%. Beijing at second place with 238 thousand, up 24 thousand from last year, followed by Shanghai with 205 thousand (up 24 thousand) and Zhejiang with 160 thousand (up 14 thousand). The 4 provinces create 843 thousand China’s HNWIs, accounting for 63% of the country’s total. (For more details, please refer to the appendix below)

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AwardsThe Best of the Best is for the overall winner of a category. The Star Performer is for the product / service with the best year on year performance. The Best New Arrival is for a product / service launched into China in the past 12 months that has shaken up the market.

Hurun Best of the Best Awards 2017

Jewelry & Watch & Fashion 　Best Brand for Gifting by Men AppleBrand for Gifting by Men Star Performer MoutaiBest Brand for Gifting by Women Louis VuittonBrand for Gifting by Women Star Performer

Bulgari

Best Jewelry CartierJewelry Star Performer PiagetHigh-Jewelry Best New Arrival Cartier MagicienHigh-Jewelry Best New Arrival Van Cleef & Arpels Ballet PrécieuxDomestic High-end Customized Jewelry Best New Arrival

Sense Jewelry

Best Overall Watch Patek PhilippeOverall Watch Star Performer BlancpainBest Watch with High Complications Patek PhilippeWatch with High Complications Star Performer

IWC

Watch with High Complications Best New Arrival

Vacheron Constantin OVERSEAS

Best Jewelry Watch BulgariBest Shoes For Women Jimmy ChooBest Fashion Label For Men Giorgio ArmaniFashion Label For Men Star Performer Hugo BossBespoke Tailoring Star Performer De Jue Bespoke Tailor

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Best Fashion Label For Women ChanelFashion Label For Women Star Performer GucciBest Accessory for Men CartierAccessory for Men Star Performer DiorBest Accessory for Women Chanel3C & Furniture 　Smartphone Best New Arrival Huawei Mate 9Premium HDR TV Star Performer Sony Z9D 4K HDR TVBest Smart TV LeTVPremium Professional Camera Star Performer

Hasselblad

Premium Professional Camera Best New Arrival

Leica M10

Luxury Office Supplies Best New Arrival Casio Calculator S200Best Kitchen Appliance MieleMulti-Category Dish Washer Star Performer

Fotile

Best Luxury Furniture Experience Center Da VinciFurniture Experience Center Star Performer

Louvre Casa

Bathroom Star Performer American StandardBest Hand Painted Wallpaper de Gournay Best Customized Mattress My SideLuxury Bedding Brand Best New Arrival RESTIERCustomized Luxury Hometex Star Performer

Royalcover

Best High-end Fireplace Brand CanatureBest Piano Steinway & SonsBest Home Entertainment System Bang & OlufsenCars 　Best Luxury Car Brand Mercedes-BenzLuxury Car Brand Star Performer Lincoln New Energy Car Best New Arrival Tesla Model S P100DElectric Car Best New Arrival LeSEE

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Best Super Luxury Executive Car Rolls-Royce GhostBest Luxury Executive Car Mercedes-Benz S-ClassLuxury Executive Car Best New Arrival Volkswagen PhideonLuxury Executive Car Best New Arrival Volvo S90LBest Executive Car Mercedes-Benz E-ClassExecutive Car Star Performer Jaguar XFLBest Super Luxury Car for Self-Drive Rolls-Royce WraithSuper Car Best New Arrival Aston Martin DB11Best Supercar Ferrari 488GTBSupercar Best New Arrival Ford GTMini Supercar Best New Arrival Porsche 718 BoxsterBest High Performance Sports Car Audi R8Sports Car Star Performer Audi RS6Best Luxury SUV Range RoverLuxury SUV Star Performer Porsche MacanLuxury Middle-large Size SUV Star Performer

Lincoln MKX

Luxury SUV Best New Arrival Maserati LevanteLuxury SUV Best New Arrival Mercedes-Benz GLC CoupeBest Luxury MPV Toyota AlphardMPV Star Performer Buick GL8Best Classic Car Museum Sanhe Classic Car MuseumBest National Motorsports Championship China GTBest Premium Second Hand Car Platform in Guangdong

AKD

Business Jets & YachtsBest Business Jet Brand GulfstreamBest Ultra Long Range Business Jet Dassault Falcon 7XUltra Long Range Business Jet Best New Arrival

Dassault Falcon 8X

Light Business Jet Star Performer Embraer Phenom 300Ultra Long Range Business Jet Star Performer

Bombardier Global 6000

Domestic Business Jet Operator Star Sino Jet

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PerformerInternational Business Jet Operator Star Performer

HK Bellawings Jet

Best Business Jet Operator Deer JetHeli-flight Network of Pearl River Delta Region Best New Arrival

Astro Air

Business Jet Operator Star Performer VistaJetBest Business Jet Financier Minsheng Financial LeasingBest Super Yacht LurssenBest Luxury Yacht FerrettiBest Sailing Brand BeneteauDrinks & Smokes 　Best Premium Imported Spirits Brand HennessyBest Premium Whisky Royal SalutePremium Whisky Star Performer Johnnie Walker Blue LabelBest Whisky Brand ChivasBest Single Malt Whisky MacallanSingle Malt Best New Arrival SingletonBest Ultra Luxury Cognac Louis XIIIBest Cognac Brand MartellBest Champagne Brand Moet & ChandonBest Prestige Champagne Dom PerignonBest Baijiu Brand MoutaiBaijiu Brand Star Performer ShuijingfangFine Wine Best New Arrival Ao YunChilean Wine Star Performer Casa Sol

Sweet Wine Star PerformerLongview Estate White Diamond Sweet Wine

Luxury Tea Brand Star Performer Runyan Fine Oolong TeaWellness Honey New Arrival Bee The BestBest Premium Cigarette ChunghwaBest Super Luxury Cigarette Brand PandaBest Cigar Brand Davidoff

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Hotels & Airlines & Travel Destinations 　Best Luxury Hotel Brand The Ritz-CarltonLuxury Hotel Brand Star Performer Banyan TreeLuxury Hotel Brand Star Performer FairmontBest Luxury Boutique Hotel Brand AmanBest Upscale Business Hotel Brand HiltonUpscale Business Hotel Star Performer MarriottUpscale Business Hotel Star Performer Wanda Hotels & ResortsBeijing 　Luxury Hotel in Beijing Star Performer NUO Hotel BeijingLuxury Hotel in Beijing Region Star Performer

Four Seasons Hotel Beijing

Luxury Business Hotel in Beijing Star Performer

Ritz-Carlton Beijing Financial Street

Shanghai 　Best Luxury Hotel in Shanghai Pudong Ritz-CarltonLuxury Hotel in Shanghai Best New Arrival Wanda Reign on the BundHotel F&B in Shanghai Star Performer Mandarin Oriental Pudong, ShanghaiLuxury Hotel in Shanghai Star Performer Fairmont Peace Hotel in ShanghaiMoganshan 　Best Moganshan Luxury Resort Naked Resort Best Moganshan Luxury Boutique Hotel Le Passage Mohkan Shan Changsha 　Luxury Hotel in Changsha Best New Arrival

Meixi Lake Hotel, A Luxury Collection Hotel, Changsha

Chengdu 　Best Luxury Hotel in Chengdu The Temple HouseLuxury Hotel in Chengdu Best New Arrival Fairmont ChengduLuxury Resort Hotel in Chengdu Star Performer

Six Senses Qing Cheng Mountain

Best Luxury Restaurant in ChengduRoyal Court Restaurant at Diaoyutai Boutique Hotel Chengdu

Chongqing 　Luxury Hotel in Chongqing Best New Regent Chongqing

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ArrivalLuxury Hotel in Chongqing Star Performer Banyan Tree Chongqing Beibei Sanya 　Luxury Hotel in Hainan Star Performer The St. Regis Sanya Yalong Bay ResortBest Eco-life Hotel in Maldives Soneva HotelBest International Luxury Travel Destination

Maldives

International Luxury Travel Destination Star Performer

UK

Best Domestic Luxury Destination SanyaDomestic Luxury Destination Star Performer

Qingdao

Domestic Luxury Destination Star Performer

Xiamen

Best International Business / First Class Singapore AirlinesBest First Class from China to Europe Air FranceBusiness Class to Europe Star Performer British AirwaysBest North American Airline Serving China United AirlinesMiddle East Airlines Best New Arrival Etihad AirwaysBest Domestic Business / First Class China Eastern AirlinesBest Luxury Travel Retail DFSBest London Luxury Shopping Destination HarrodsBest British Jewelry Watch Backes & StraussFinance, Auction & Services 　Best Domestic Private Bank China Merchants BankDomestic Private Bank Star Performer Industrial BankBest Foreign Bank for Personal Banking HSBCBest Offshore Private Bank for Ultra High Net Worths

UBS

Best Offshore Private Bank UBSOffshore Private Bank For Ultra High Net Worths Star Performer

Credit Suisse

Foreign Bank for Personal  Banking Star Performer

Standard Chartered

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Portfolio Management Private Bank Star Performer

Bank of Beijing

Best Bank for Global Chinese in USA East West BankBest Bank for Global Chinese in UK Bank of China UKBest Independent Financial Adviser CreditEaseIndependent Financial Adviser Star Performer

Haiyin Wealth

Best Prestige Retirement Planning Brand TaikangHealth and Wealth Management Institution Star Performer

Taikang Life Insurance Healthcare and Wealth Management Center for HNW Clients

Senior Living Community Best New Arrival Taikang Home - Shen GardenBest Method of Payment AlipayBest Credit Card China Merchants BankBest International Credit Card Brand VISABest Insurance Brand China LifeMulti-currency Credit Card Best New Arrival

American Express Blue Card

Heritage Financial Products for High Net Worths Best New Arrival

AIA The best for the best

Best International Auction House Christie'sBest Domestic Auction House China Guardian AuctionBest Art Media ArtronBest Security Service China City GuardSecurity Box Star Performer GuanFu TreasuryStudy Abroad & Immigration 　Best Country for Overseas Study USACountry for Overseas Study Star Performer

Germany

Best Country for Immigration USABest High-end Overseas Study Brand BE EducationBest EMBA Cheung Kong Graduate School of BusinessBest Immigration Advisor in Eastern China Visas Consulting GroupImmigration Advisor Star Performer Wailian Overseas ConsultingBusiness School Best New Arrival Hupan University

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Property 　Real Estate Development in SE Asia Best New Arrival

Forest City

International Residential Services Star Performer

Global House Buyer

Best San Francisco Bay Area Luxury Real Estate Advisor

Pacific Union

Best Luxury Real Estate Advisor in UK Knight FrankBest Luxury Homebuilder in London BerkeleyGlobal Luxury Real Estate Network Star Performer

Christie's International Real Estate

Wellness 　Best Health Management Institution iKang Evergreen Medical International Best Spa Banyan Tree SpaOverseas Medical Consulting Services Star Performer

Saint Lucia Consulting

Best Presentation Award for Premium Health Institution of Anti-Senile & Cancer

Life Infinity

Clubs 　Best Private Club in China Chang An ClubBest Private Club in Shanghai House of RooseveltBest Private Museum in Shanghai Long MuseumBest Equestrian Club in Beijing Reignwood Polo ClubBest Polo Club in Beijing Tang Polo ClubBest Equestrian Club Heilan EquestrianBest Equestrian Park in Chengdu Jinma International Equestrian Sports ParkDomestic Private Art Museum Star Performer

ShenYu Art Museum

Private Membership Club in Shanghai Best New Arrival

Club 33

Equestrian Club in Shanghai Best New Arrival

County Down Club

Luxury Private Club in UK Best Bew ArrivalTen Trinity Square Private Club by Reignwood

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Culture Creative Best New Arrival Shanghai Stamp Coin and Card Exchange　 　Hall of Fame UBSHall of Fame Mercedes-BenzHall of Fame House of Roosevelt

Appendix:

No. of people

with RMB 6 million in 2016

Increase by

No. of people

with RMB 10 million in 2016

Increase by

No. of people

with RMB 100

million in 2016

Increase by

No. of people

with dollar 30 million

in 2016

Increase by

1Guangdong

592,000 10.86% 240,000 17.65% 14,00017.65%

9,000 17.19%

Shenzhen 146,300 66,000 4,720 3,060

Guangzhou

137,400 57,200 3,620 2,270

Zhuhai 15,300 6,800 400 330

Foshan 62,300 26,100 1,400 930

Dongguan

48,600 20,900 1,280 840

Shantou 14,400 6,150 580 260

2 Beijing 580,000 9.43% 238,000 11.21% 15,60016.42%

10,000 14.94%

3 Shanghai 501,000 8.91% 205,000 13.26% 12,70016.51%

8,700 20.00%

4 Zhejiang 439,000 7.07% 160,000 9.59% 10,30017.18%

7,400 19.16%

Hangzhou 105,200 41,200 2,860 2,130

Ningbo 74,600 28,200 1,860 1,370

Wenzhou 47,800 18,100 1,260 920

Shaoxing 45,500 17,000 1,190 880

5 Jiangsu 250,000 7.30% 98,000 11.36% 6,75014.41%

4,800 21.52%

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Nanjing 34,600 15,500 1,100 790

Suzhou 53,700 22,100 1,770 1,260

Wuxi 37,500 16,200 1,160 780

6 Fujian 129,000 9.32% 48,000 9.09% 3,30013.79%

1,900 11.76%

Fuzhou 28,800 10,800 890 510

Xiamen 20,300 8,200 720 420

Quanzhou

29,400 11,400 800 460

6 Shandong 129,000 6.61% 46,900 7.32% 3,20014.70%

2,100 22.81%

Qingdao 24,400 9,650 730 470

Yantai 13,700 5,390 430 280

Jinan 11,500 4,330 260 170

Zibo 8,580 3,210 240 160

Weifang 10,300 3,820 260 170

Weihai 6,940 2,910 200 130

8 Liaoning 83,600 0.48% 32,000 0.95% 2,050 1.99% 1,300 11.11%

Dalian 23,800 9,760 620 380

Shenyang 21,800 8,770 560 330

9 Sichuan 80,700 4.81% 32,400 6.58% 2,48010.71%

1,400 15.70%

Chengdu 30,000 14,500 1,360 780

10

Tianjin 57,600 4.16% 23,600 5.36% 2,000 8.70% 1,330 19.82%

11

Henan 55,400 5.32% 23,100 7.44% 1,72010.97%

960 11.63%

Zhengzhou

12,100 5,570 600 340

12

Shanxi 48,900 0.62% 16,100 1.26% 1,440 2.13% 740 4.23%

Taiyuan 9,790 3,540 350 210

13

Hunan 46,600 3.33% 17,900 4.07% 1,060 7.07% 600 3.45%

Changsha 13,900 6,270 420 240

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14

Hebei 45,700 1.56% 17,500 2.34% 1,390 2.96% 730 5.80%

Shijiazhuang

8,000 3,090 310 150

Tangshan 8,560 3,300 260 134

15

Shanxi 44,400 2.30% 17,000 3.66% 1,060 4.95% 620 5.08%

Xian 15,600 6,630 530 310

16

Hubei 43,300 6.39% 18,000 9.09% 1,50013.64%

840 15.07%

Wuhan 16,700 7,570 790 440

17

Chongqing

42,300 7.36% 15,700 9.79% 1,12015.46%

710 16.39%

18

Inner Mongolia

32,500 1.56% 13,300 2.31% 850 3.66% 400 5.26%

Hohhot 5,250 2,280 140 70

Ordos 7,650 3,270 280 130

Baotou 6,570 2,810 170 80

19

Heilongjiang

32,300 0.31% 12,500 0.81% 830 1.22% 440 0.00%

Harbin 14,500 5,940 460 240

20

Anhui 26,800 4.69% 11,500 6.48% 1,19010.19%

660 10.00%

Hefei 7,200 3,310 390 220

21

Jiangxi 26,700 5.12% 11,800 7.27% 1,11011.00%

640 10.34%

Nanchang 6,240 2,970 410 180

22

Jilin 23,300 4.02% 9,500 5.56% 610 8.93% 280 7.69%

Changchun

8,800 3,710 300 140

23

Yunan 17,200 6.83% 8,200 9.33% 81014.08%

470 14.63%

Kunming 5,070 2,700 320 190

2 Guangxi 16,500 6.45% 7,200 9.09% 570 14.00 280 16.67%

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4 %

Nanning 3,330 1,700 170 80

25

Hainan 10,600 4.95% 5,200 8.33% 230 9.52% 150 15.38%

Sanya 1,210 630 34 20

Haikou 3,170 1,610 82 50

26

Guizhou 9,700 10.23% 4,410 13.08% 45018.42%

230 21.05%

Guiyang 3,160 1,350 200 100

27

Xinjiang 7,700 0.00% 3,800 2.70% 300 0.00% 100 0.00%

Urumchi 2,700 1,470 140 46

28

Ningxia 2,700 3.85% 1,100 10.00% 130 8.33% 80 14.29%

Yinchuan 1,330 590 75 46

29

Gansu 2,200 0.00% 890 -1.11% 100 0.00% 60 0.00%

Lanzhou 800 360 45 27

30

Qinghai 2,100 5.00% 850 6.25% 8014.29%

50 0.00%

Xining 1,020 460 40 30

31

Tibet 1,200 9.09% 550 10.00% 7016.67%

30 0.00%

Lhasa 470 230 32 15

Total 3,380,000 7.64%1,340,000

10.74% 89,00014.10%

57,000 16.33%

About Hurun Report Incsince 1999

Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala, in India.

Hurun Report Inc has five divisions. Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s

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leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang Insurance, Marriott International, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.

Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between up to two million unique viewers a week through its multi-platform distribution. Hurun Media has four key media brands, led by Hurun Report (business and entrepreneurship), Hurun Education, Hurun Art and Hurun Health. Its flagship business media Hurun Report has an active WeChat social media, an online business talk show called MaShangHu, distributed through iQiyi, and PC- and Mobile-friendly website www.Hurun.net.

Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year. Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India. Hurun Business School started in 2016.

Hurun International. Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs.

Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, media, classic cars, financial services and luxury.

For further information, see www.hurun.net

Official Wechat platform: HurunReport

For media inquiries, please contact:

Porsha PanTel: 021-50105808*601Mobile: 139 1838 7446Email: porsha.pan@hurun.net

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