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Hurun China rich list unveiled

Hurun China rich list unveiled
0 CommentsPrint E-mail CNTV, October 14, 2010
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The number of Chinese individuals who have more than one billion yuan in personal assets, rose 36 percent from a year earlier. That's according to this year's Hurun Rich List. Let's take a look at China's movers and shakers.


The twelfth edition of the annual Rich List by the Hurun Research Institute shows that there are 1,363 individuals with personal wealth of at least one billion Chinese yuan, up from a thousand last year.

A billion yuan works out to roughly 150 million U.S. dollars.

China - the world's second largest economy - has the fastest growing wealthy population in the world, according to a report by Merrill Lynch and Capgemini.

The list's founder and compiler Rupert Hoogewerf believes this impressive growth in wealth may be even larger than officially documented.

Rupert Hoogewerf, Hurun List Founder and Compiler said "you look at the billionaires in US dollars that we know of now, there are about 189. But you could easily double that again, so there are probably four to five hundred billionaires US dollars in China today, which might even make them the biggest number of billionaires anywhere in the world now."

According the latest ranking, Beverage tycoon Zong Qinghou is the richest individual in China with personal wealth of $12 billion U.S. dollars. He rose from the 12th place on the list last year, helped by bumper profits at his company Wahaha which has grown into China's dominant drinks business.

Li Li, the owner of the Hepalink Pharmaceutical Company, is ranked second in terms of wealth with a personal fortune of over $6 billion U.S. dollars.

Zhang Yin - owner of the the Nine Dragon's Paper recycling company - is ranked as China's third wealthiest individual, as well as China's richest woman.

The 32-page report also shows that 95 percent of China's richest individuals have made their wealth from growing domestic consumption, with real estate representing the wealthiest market.


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