However, the middle class still demonstrated a strong willingness to invest.

The report said 88 percent of respondents said they had used their assets to invest in different areas, in the hope of expanding their wealth.

But at the same time, about the same number said they preferred low-risk investment options, with many buying wealth management products, funds and securities.

Private company owners made up 49.4 percent of the respondents, with the majority of the rest classifying themselves as State-owned or multinational company executives, or professionals such as lawyers.

Although most wish their children to pursue overseas study, 75 percent said they have no plans to migrate themselves, largely because their companies rely on the Chinese economy, said Shi.

Yang Xiaolong, chairman of Zhejiang Gete Clothes Co Ltd, moved to France in 1990 to start manufacturing jeans. But he returned to China in 2000 to export garments.

"It is better to stay in China for the sake of convenience, and for the business opportunities," said Yang.

shijing@chinadaily.com.cn