China's million 'millionaires'

HONG KONG (Reuter) - Communist China has more than a million renminbi (yuan) millionaires 'according to the most conservative estimates', an official report said yesterday.

Some in the booming southern city of Shenzhen were in the Rmb10m ( pounds 1.18m) bracket, the China News Service quoted a magazine as saying. Average per capita income rose above Rmb2,000 for the first time last year, driven by 12.8 per cent economic growth.