Personal investable assets are expected to grow by 13 percent annually to reach 196 trillion yuan ($31 trillion) in the next five years, a new report said.

The number of high-net-worth families is estimated to rise 11 percent every year to 3.46 million during the same period, said the report released by Industrial Bank Co Ltd and The Boston Consulting Group on Tuesday.

Between 2013 and 2015, China recorded an annual growth of 21 percent in personal investable assets, which are expected to reach 110 trillion yuan by the end of this year.