China's HNWIs have developed more mature and complex investment and wealth management attitudes and needs over the past few years. In 2015, HNWIs' primary wealth objectives are to create wealth at a moderate pace while preserving existing fortunes, and to pass their wealth on to the next generation in the most effective and beneficial manner. These changing attitudes and objectives have caused HNWIs' investment behaviors to evolve. They are shifting their focus beyond acquiring a high-quality lifestyle and beyond China's domestic markets, and are placing a greater emphasis on inheritance planning, on overseas investments, on embracing the Internet and seizing opportunities in innovative industries.

Meanwhile, China's private banking industry is facing increased competition. Whereas financial institutions in China previously focused primarily on establishing their brand image, they now focus more on their clients—on understanding and exploring clients' short-term and mid- to long-term wealth management needs. Financial institutions emphasize their professionalism and seek to build strong service platforms by providing differentiated services and wealth management advice, as well as expand their cross-border footprint by participating in the overseas market.

This year marks the fourth time that CMB and Bain have collaborated to produce the China Private Wealth Report. The 2015 report draws on many resources, primarily on knowledge and data gleaned from the 2009, 2011 and 2013 reports; on CMB's vast experience in the retail banking industry and access to high-end client resources; and on Bain's data analysis tools and research in the private banking industry. The analysis in this report relies on authoritative statistical data and rigorous methodology, which was used to create China's private wealth curve. We calculated the number of Chinese HNWIs and their total private wealth in 2014, and compared 2014 data with data from 2008 to 2013 to infer growth trends and offer predictions for 2015. Finally, our study is based on findings from surveys completed by approximately 2,800 HNWIs and interviews with more than 100 industry experts, relationship managers and HNWIs.

Our 2015 report aims to provide accurate assessments of the major trends in China's current financial market, as well as offer a reliable overview of HNWI investment attitudes, to maximize the synergy between wealth management institutions and specialized advisory firms. This report provides the research, information, insights and analyses high-end private financial institutions will need to develop successful investment strategies for their HNWI clients to achieve their wealth management objectives.