Untitled Document
 |
China's building boom has
enriched property developers |
The number of Chinese billionaires has more than doubled in the past
year, according to a survey.
Forbes Asia magazine's annual Chinese rich list found that there are now 10 US
dollar billionaires in China compared with three a year ago.
China's economy has been expanding rapidly, boosting the personal wealth of
the country's leading entrepreneurs.
Businessman Larry Rong Zhijian remains China's richest man, with an estimated
fortune of $1.64bn (£929m).
The son of former Chinese vice premier Rong Yiren is chairman of Hong Kong-based
investment firm China International Trust and Investment Corporation.
CHINA'S RICHEST
Larry Rong Zhijian: $1.6bn
Zhu Mengyi: $1.4bn
William Ding Lei: $1.27bn
Wong Kwong Yu: $1.25bn
Property boom
The combined wealth of China's 100 richest people now exceeds $41bn, the survey
found, compared with $29bn a year ago.
The construction boom of recent years has enriched a host of property developers
headed by Zhu Mengyi, China's second richest man with an estimated fortune of
$1.4bn.
Other businessmen featuring in the list include William Ding Lei, founder of
US-listed business Netease.com, and Wong Kwong Yu, founder of electronics retailer
GoMe Appliances.
"Brisk economic growth and a huge appetite among foreigners for Chinese
investments helped to propel the wealth of China's richest people in the past
12 months," Forbes Asia said.
