Wanda Group's chairman Wang Jianlin has been ranked top of the 2012 New Fortune 500 rich list. [File photo]
China's real estate tycoon Wang Jianlin from Wanda Group came atop the 2012 New Fortune 500 rich list, with a personal wealth of 46 billion yuan (US$7.3 billion).
Coming in second is Sany Heavy Industry Chairman Liang Wengen, with 44 billion yuan (US$6.98 billion), according to the latest annual wealth ranking released Tuesday by the Private Banking of China Minsheng Bank and New Fortune magazine.
They are followed by Li Yanhong (Robin Li), CEO of China's top search engine Baidu.com, with a personal wealth of 42.2 billion yuan (US$6.69 billion).
The real estate industry, the main beneficiary of China's fast urbanization, produced the highest number of rich people: Yang Huiyan from Country Garden Holding topped the lists in 2007 and 2008; Wang Jianlin ranked the first on the lists in 2010 and 2012.
However, due to the implementation of a series of control measures on housing development, the real estate industry has begun facing increasing pressure. Although 70 real estate developers populate the list this year, the number is the lowest in the past 10 years.
The development of China's capital market has boosted the A share market to become a main rich maker on the Chinese mainland. In 2003, about 50 percent of the rich people's listed companies were listed on overseas stock exchanges, but the percentage dropped to 27 percent in 2012. More and more of China's wealthy are being marked "made in China."