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China's Rich Hiding $1.4 Trillion In Wealth, Study Says

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BEIJING -- China's households hide as much as 9.3 trillion renminbi of income that is not reported in official figures, with 80 percent accrued by the wealthiest people, a study showed.

The money -- the equivalent of $1.4 trillion, much of it most likely "illegal or quasi-illegal" -- is the equivalent of about 30 percent of China's gross domestic product, according to the study, which was conducted for Credit Suisse and published last week by the China Reform Foundation

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