"The Chinese economy turned in another year of strong performance in 2006, driven by surging exports and rising domestic consumption," Merrill Lynch executive Francis Liu said in a statement released Wednesday.
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"Returns from the stock market also gave a lift to the number of China (millionaires) and their holdings."
China also has 4,935 extremely rich people, or "Ultra-HNWIs" (Ultra-High Net Worth Individuals), defined as those with financial assets of more than 30 million dollars, the statement said.
"China's rapid economic growth is reflected in a high concentration of Ultra-HNWIs," said Dirk Chanmueller, a Capgemini executive.
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"The country is home to more than 28 percent of the Ultra-HNWIs in Asia Pacific.
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The survey was released a week after two an