China's Wealthy Less Interested in Property Investment

China's rich less enthusiastic about property investment in early 2011: report

Investment by the country's rich in the real estate market took up 14 percent of their overall investment portfolio in early 2011, 4 percentage points less compared to the same period last year, according to a report jointly released Wednesday by the China Merchants Bank and Bain & Company business consulting firm.

The report said the number of people with assets worth more than 10 million yuan in China reached about 500,000 by the end of 2010, up 22 percent compared to the end of 2009. This number was expected to rise to 590,000 by the end of this year.