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The value of China's individual investible assets reached 126 trillion yuan ($18.28 trillion) in 2016 http://www.cheapnfljerseyscowboys.com/Chaz-Green/ , 1.7 times the country's gross national product, ranking second in the world in terms of scale, according to a report jointly released by Industrial Bank Co and global consulting firm BCG on Thursday.

 

It forecast that China's individual investible assets will grow steadily in the next few years and reach 220 trillion yuan by 2021.

 

The number of Chinese families with high levels of net assets has surpassed 2.1 million, and that group is set to reshape a wealth management market of 110 trillion yuan in the next five years http://www.cheapnfljerseyscowboys.com/Byron-Jones/ , providing enormous opportunity for the development of private banking, it said.

 

With the rapid asset accumulation of these families and the maturing of the capital market, the number of clients of domestic private banking has exceeded 500,000 http://www.cheapnfljerseyscowboys.com/Maliek-Collins/ , said the report. Assets under management reached nearly 8 trillion yuan after 10 years of development, it added.

 

Billionaire Klaus-Michael Kuehne has acquired a 7.5 percent stake at former European champions Hamburg SV after pumping in 18.75 million euros ($21.76 million) in investment and also bagged the stadium naming rights, the club said Thursday.

 

Hamburg, struggling to avoid relegation in the past few seasons http://www.cheapnfljerseyscowboys.com/Xavier-Woods/ , has been dogged by financial problems and a string of expensive but unsuccessful transfers.

 

"I am very happy that we could successfully wrap up our talks about me becoming a shareholder," Kuehne said in a statement. "I hope I can contribute to turning Hamburg around."

 

Kuehne essentially turned part of his 25 million euro loan to Hamburg last summer that allowed them to sign Lewis Holtby, Swiss international -Valon Behrami and US international Julian Green among -others, into a stake in the -former German champions.

 

His investment is not only a much-needed shot in the arm for Hamburg http://www.cheapnfljerseyscowboys.com/Ryan-Switzer/ , pushing back commitments for the indebted club, but a major hope for the long-term future of the only Bundesliga club to never have played in the second division since the top league's creation in 1963.

 

The billionaire will also give the stadium its old name "Volksparkstadion" back from July 1 after acquiring the -naming rights "initially" for four years.

 

"For me as a Hamburg fan it was a matter of the heart that the home of the club has again its traditional name," Kuehne said in a club statement.

 

"I wish that the club can -enjoy success at the Volksparkstadion like in the past.

 

Hamburg's stadium, currently called the Imtech Arena http://www.cheapnfljerseyscowboys.com/Jourdan-Lewis/ , was known as the Volksparkstadion until 2001.

 

"We are continuing our -financial consolidation with this move and have reached an important milestone," Karl Gernandt, Hamburg's soccer board chairman, told reporters.

 

"We will continue working so that Hamburg can win back its ability to be competitive on all levels in the Bundesliga."

 

Hamburg are 14th in the league right now http://www.cheapnfljerseyscowboys.com/Chidobe-Awuzie/ , two points above last-placed Freiburg. The Bundesliga resumes on January 30.

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Publicerat klockan 05:59, den 3 maj 2018
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