China will become one of the largest markets of high-net-worth individuals in the world, with the number of high-net-worth families rising from 2.07m in 2015 to 3.88m at the end of 2020, according to a report released by Industrial Bank Co and the Boston Consulting Group Wednesday. During the same period, China's personal investable assets will increase from RMB113 trillion to RMB200 trillion at a compound annual growth rate of 12%. Despite the slowing Chinese economic growth, the wealth of high-net-worth individuals is rising steadily, said the report. It is estimated that the investable assets of China's high-net-worth individuals will account for 51% of China's individual wealth in 2020, offering great opportunities for the development of private banking business.