Over half of high income families in the world are in China

The number of high income families in the Chinese mainland reached 40.9 million in 2015, accounting for 51 percent of the total globally. Chinese mainland is followed by Japan (5.5 million) and South Korea (2.8 million), according to MasterCard Inc.

To meet higher expectations and requirements of high-end Chinese consumers while they are traveling, MasterCard relaunched an upgraded World MasterCard, a travel credit card, for China on Thursday, as the payment industry leader celebrated its 50th anniversary of establishment and its entry into the Chinese market 30 years ago.

Specially designed for China, the card will add 16 privileges for cardholders during 2016 and 2017 in terms of traveling, food and life experiences.

Chang Qing, division president of MasterCard China, said, "A latest research conducted by Hurun Report Inc shows that high net worth individuals are no longer pursuing material joy during their trips but are looking for other experiences, such as learning the local culture, tasting local food, and exploring new tourist destinations and projects.

"Today, China's high-end tourism market has grown by 12 percent annually. MasterCard has long been devoted to providing best solutions and value-added services to satisfy the constantly upgrading consumption demands and lifestyle of high-end consumers. Our brand new World MasterCard for China will provide rich services to cardholders, helping them broaden horizons and have new experiences while enjoying the convenience and security brought by our global partners and safety technologies."