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But Rupert Hoogewerf, the founder of the annual Hurun Report on China's richest citizens, reckons that it may already have more billionaires.
ECONOMIST: Economics focus
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The Chinese Millionaire Wealth Report 2012, put together by GroupM and the Hurun Report, found that there are now a million millionaires in China.
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Hurun Report, a magazine best known for its ranking of the wealthiest individuals in China, surveyed 1, 000 super-rich Chinese in 2011 found that 55% of the respondents either in the process of leaving China or seriously considering it.
CNN: Report: As Chinese millionaires rise, happiness falls
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"What we are seeing is a sense of insecurity or, perhaps you want to look at it from another side, looking for a sense of insurance policy, " said Rupert Hoogewerf, publisher of Hurun Report, told CNN in November.
CNN: Report: As Chinese millionaires rise, happiness falls
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At least that's what new findings suggest from "The Millionaires Happiness Report" released by the Shanghai-based Hurun Research Institute.
CNN: Report: As Chinese millionaires rise, happiness falls