Given his academic performance in his high school, it's unlikely he got a scholarship to a leading UK private high school (Hurtwood House checking his Linkedin). Parents who can afford to send their kid to an overseas high school that charges $40k/year are not modest by Developed country standards, much less Chinese, and even less so Hebeinese.
> He was a child of aristocrats; I am the child of modest workers.
When a one-digit millionaire compares himself to a billionaire like Bill Gates, using "modest" to describe one's wealth would be appropriate in this context.
http://www.economist.com/whichmba/mba-diary-standing-oration
I suppose it started to dawn on me when mum commented that if we had stayed in Birmingham they would have used my Grandfather (a headmaster) to try and pull strings to get me into Kings Edwards, BTW this is "the" King Edwards (JRR Tolkien's alma mata) that takes turn with the Oratory for the top school in the country.
A good friend of mine is from Chengdu and for most of his life he thought he was just average - a guy whose parents sent him to the US for high school, pay ~30,000CAD/semester in tuition, bought him an X3 for his first car, etc.
The biggest expensive cities are in league with NYC/SF/London, but there is still a large countryside that is "modest" and vast unpopulated area with noone or villages that are decades behind.