Chinese mainland had more rich people than the UK in 2008, rising to fourth position in the world rankings, according to a survey conducted by an institution under Merrill Lynch.

However, some foreign media agencies have said that the excessive centralization of wealth in China is concerning, believing that, with the fastest growth in luxurious goods consumption in the world, the degree of lavish spending by rich Chinese is shocking.

In addition, some analysts have pointed out that although the number of rich Chinese is increasing, wealth distribution across different classes is still unhealthy. There remains a large gap between China's wealth structure and the "olive-shaped society" of a larger middle class prevalent in the West.

By People's Daily Online