1、 0 China Family Office ReportChina Family Office Report (2022)(2022)September 2022 Introduction 1 INTRODUCTION As China is expected to see a rapid economic recovery with its effective pandemic response,it will continue to power ahead as a key player of the worlds economic growth.In terms of wealth c

2、reation,according to Forbes Worlds Billionaires 2021,the number of wealthy individuals with a net worth of USD1 billion in China reached 745,overtaking the US and ranking first in the world for the first time.Driven by the consistent growth of the new economy and the comprehensive registration syste

3、m reform,40%of newcomers on the list were from Mainland China.Among them,next-generation high-tech new economy industries,such as new energy,big health,and digital technology,have become important drivers for wealth creation.The growth of Chinas national wealth is the natural result of its high-qual

4、ity economic development,while also promoting the booming development of the domestic wealth management industry.According to the“China Private Banking Development Report(2021)”published by the China Banking Association and Tsinghua University PBC School of Finance(Tsinghua PBCSF),the assets under m

5、anagement(AUM)of private banks in China increased from RMB14.1 trillion in 2019 to RMB17.3 trillion in 2020,representing a growth rate of 22.1%;the number of private banking customers increased from 1.03 million in 2019 to 1.25 million in 2020,with a growth rate of 21.5%.In parallel with the rapid g

6、rowth of the wealth management industry,high-quality development on the supply side has seen stronger demand.It is difficult for traditional financial institutions to fully meet the heterogeneous needs of ultra-high-net-worth（UHNW）entrepreneurial groups in terms of both financial and non-financial s