China adds fewer millionaires as economy slows

China’s rocketship of an economy just isn’t churning out millionaires like it used to.

The number of new Chinese millionaires grew by only 3% in 2012, the slowest pace in five years, according to a new report from Hurun Research Institute and marketing firm GroupM Knowledge.

Just more than 1 million Chinese are now able to call themselves millionaires. Of those, 184,000 live in Beijing, while 172,000 are in Guangdong and 147,000 reside in Shanghai.

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Charles Riley, CNN via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/YmooEqBamr8/