The millionaires club on the Chinese mainland is growing more slowly for the second consecutive year and members are expressing less confidence in the country's economic prospects.[Hong Kong company registration]

By the end of last year, the number of people with wealth in excess of 10 million yuan (US$1.6 million) rose 3 percent from a year earlier to 1.05 million while the super-rich, those with a net worth of 100 million yuan or more, went up 2 percent to 64,500, both growing at their lowest pace in five years, according to the GroupM Knowledge-Hurun Wealth Report 2013.

The top three choices as places to live are still Beijing, Guangdong Province, and Shanghai - the traditional economic hubs - although about 60 percent of China's wealthy population are spread throughout second and third-tier cities in other provinces.

Shanghai is where 147,000 millionaires live, according to the report, third after Guangdong (172,000) and Beijing (184,000).

Zhejiang Province had the major share of wealth shrinkage along with Inner Mongolia, which is in the throes of economic transformation, while Tianjing became the biggest riser with an[Set Up Company Hong Kong] 11 percent increase in the number of rich residents to 19,000.

Millionaires are less upbeat, the report noted, as only a quarter of them said they were confident about China's economy over the next two years, 3 percent fewer than in 2012 and less than half the number in 2011.

On the other hand, the not-confident level rose to a three-year high of 9 percent from the previous 7 percent and 3 percent.

But it seems that economic prospects are not weighing too heavily on their minds.

Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, said: "For the Chinese millionaire class, the key words this year are ��health' and ��happiness'."

The Millionaire Happiness Index published by the Hurun Research Institute for the first time reached 7.8 out of 10. According to feedback from millionaires, the happiness they [Hong Kong Company Formation]get from their family is greater than that from their jobs.

Compared with love, time, recognition, learning and material needs, what they care about and want most is good health - a quarter are unhappy with their health and more than a third feel that they don't take enough exercise.