A recent Peking University's Institute of Social Science survey has found that the poorest 25 per cent of Chinese households own just 1 per cent of the country’s total wealth. China’s Gini coefficient for income, a widely used measure of inequality, was 0.49 in 2012, according to the report.  Zhou Xiaozheng, a Sociology Professor at Renmin University in Beijing, said "There’s no doubt that the income gap is getting larger and larger . To put it simply, the poor are getting poorer and the rich are getting richer. You don’t need a report to know that." Separately, the Hurun Report said on January 14, 2016, that the number of US dollar millionaires in China had risen 8 per cent over the past year to 3.14 million. According to Hurun’s 2015 China Rich List, China has 596 dollar billionaires, more than the US.