China’s capital city Beijing and financial center Shanghai ranked among the top 10 wealthiest cities worldwide in 2019, according to a report by wealth study company New World Wealth.
Beijing grabbed the fifth place on the list with a total wealth of $2.1 trillion and Shanghai took the sixth spot with total wealth amounting to $1.9 trillion.
Landing in the same position as last year, China’s Hong Kong remained eighth on the list, in which New York City claimed the crown with $3 trillion in total wealth as well as 65 billionaires and over 380,000 millionaires.
Dubbed the “High-tech Capital of China”, Shenzhen, located in South China’s Guangdong province, came in 20th on the list with a total wealth of $750 billion.
Tokyo came in second with a total wealth of $2.5 trillion, followed by the San Francisco Bay Area and London, both of which held $2.4 trillion in total wealth.
The “total wealth” mentioned in the report referred to the private wealth held by all individuals including property, cash, equities and business interests. Government funds were excluded from the figures, which were for June this year.