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Top 1,000's average wealth rises
By Pan Xiaoyi |
October 12, 2010, Tuesday
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Online Edition
Online Edition
THE average wealth of China's top 1,000 richest people jumped 26 percent to US$722 million (4,817 million yuan) this year from a year earlier despite the sluggish stock market and the tightening measures to avert overheating in the country's economy, according to the latest Hurun Report.
In comparison, the average of the 1,000 wealthiest people in the United Kingdom is US$536 million, according to the Sunday Times Rich List 2010.
A total of 1,363 individuals have fortunes of more than 1 billion yuan (US$150 million), up from 1,000 last year and only 24 just ten years ago, although the Shanghai Benchmark Index has plunged 14 percent this year.
Wahaha's Zong Qinghou, the 65-year-old 'Drinks King', is the richest man in China with a personal fortune of US$12 billion.
Last year's number one, Wang Chuanfu, 44, drops to twelfth place with US$4.6 billion after seeing his wealth drop ten percent. His company BYD has cut its auto sales target for 2010 to 600,000 from 800,000 considering the market feedback and limitation at its production capacity.
In comparison, the average of the 1,000 wealthiest people in the United Kingdom is US$536 million, according to the Sunday Times Rich List 2010.
A total of 1,363 individuals have fortunes of more than 1 billion yuan (US$150 million), up from 1,000 last year and only 24 just ten years ago, although the Shanghai Benchmark Index has plunged 14 percent this year.
Wahaha's Zong Qinghou, the 65-year-old 'Drinks King', is the richest man in China with a personal fortune of US$12 billion.
Last year's number one, Wang Chuanfu, 44, drops to twelfth place with US$4.6 billion after seeing his wealth drop ten percent. His company BYD has cut its auto sales target for 2010 to 600,000 from 800,000 considering the market feedback and limitation at its production capacity.
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