China’s wealthy get wealthier

September 23rd, 2011 - 8:28 pm ICT by IANS  

Beijing, Sep 23 (IANS) The wealthy in China have become wealthier in the past year despite a looming global financial crisis, according to the latest Hurun China Rich List.

“China’s rich have defied the global financial crisis with another record year of growth,” said Rupert Hoogewerf, publisher of Hurun Report (magazine) that produces the annual rich list.

Property remained the biggest source of wealth for those on the list, but commodities, healthcare, IT and retail sectors were the fastest sources of wealth, Hoogewerf said.

Launched in 1999, the list contains names of 1,000 richest people in China. Their average age this year is 51.

It shows that despite the continuing financial crisis, 2011 has been a record year for China’s rich, with average personal wealth totalling $924 million, China Daily said.

Liang Wengen, chairman of China’s heavy machinery giant Sany Group, has been named the wealthiest person in China. His personal fortune totalled 70 billion yuan.

Of the top 100 entrepreneurs that made the list in 2010, 98 stayed on the list this year, and the average wealth of everyone on the list surged, the newspaper said quoting Hoogewerf as saying during the launch of the rich list at a press conference Thursday.

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