China created 40,000 new millionaires in 2013, bringing the total to 1.09 million, according to a new study.
The growth of 3.8 percent is a bit of an improvement from last year's 3 percent gain. But it's still only about half the growth rate of 2010 and 2011, suggesting that China's economic slowdown and the government's crackdown on corruption is slowing its millionaire manufacturing machine.
According to the Hurun Research Institute, the number of people in China with personal wealth of 10 million yuan—or $1.6 million—in mainland China reached 1,090,000, up from 1,050,000 in 2012. The number of people in China worth 100 million yuan, or $16 million, increased by 2,500 people to 67,000.