China has witnessed phenomenal economic growth since it adopted the Opening and Reform policy in 1978. A visible manifestation of this boom is the increase in the number of Chinese entrepreneurs who have accumulated significant wealth. The number of Chinese billionaires, for example, increased almost 200 times within 12 years, from 3 in 2004 to 568 in 2016.1 In 2015 China had 8 percent of the world’s super-high-net-worth individuals—those with more than $50 million in assets.2

This...


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