The number of Chinese families with wealth exceeding 6 million yuan or above reached 4.94 million this year, up 1.2 percent from this time one year before, according to the Hurun Wealth Report 2019, Beijing Daily reported on Nov.19.

Beijing homes the largest number of middle-income families in China, the report said. It also mentioned that the number of families owning assets of more than 10 million yuan ($1.42 million), 100 million yuan and $30 million has dropped by 1.5 percent, 4.5 percent and 5.4 percent, respectively, from the previous year.

Beijing has 704,000 families with a wealth of 6 million and above, 288,000 families with a wealth of more than 10 million, 18,900 families owning a wealth of more than 100 million yuan, and 12,700 families with a wealth of more than $30 million.

Among these rich people, 65 percent are corporation owners, 20 percent are high-level managers of large-scale companies or multinationals, 10 percent are real estate speculators and 5 percent are professional investors.