Frankly, they are punching under their weight class. China’s 1% hold 43.8% of their country’s wealth, which is above the UK at 29.9% and the US at 42.1%, but well below Russia’s 74.5% and India/Thailand who are the only other two countries above 50%. Those three are far enough above average in wealth distribution and/or population that the world average is 50.8% of wealth among the wealthiest 1%. All of this and more is in Credit Suisse’s Global Wealth Databook.
More interesting to me from that dataset is that there are ~33 million individuals with net worth over $1 million USD. Over 40% of them are Americans.