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#中金 Wealth Report: An Overlooked Warning Sign
In China International Capital Corporation's latest wealth report, there is a set of data that is very striking but almost no one is seriously discussing.
The total asset share of 1.3 billion ordinary people
2023: 7%
2025: 3%
In just three years, 4% of the total social assets have undergone a “silent transfer”—
Flowing from ordinary people to state-owned sectors and a small group of high-net-worth individuals.
This is not “feeling poorer,”
but a structural change that has already occurred on the books.
1. The middle class is being syst