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Big billionaires are on a roll in China, says Forbes

[ 2010-03-12 13:20]     字号 [] [] []  
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There are now more billionaires in China than any other country besides the United States, according to Forbes magazine.

According to the latest list of rich people put out by the magazine, the US continues to top the list with 403 billionaires. But what has really been surprising has been the strong ascendancy of China. The country increased its number of billionaires on the list to 64 in 2009 from 28 in 2008.

The richest man in China is Zong Qinghou, who runs the multi-billion-dollar soft drink firm Wahaha Group. Zong is ranked 103rd on the list with an estimated wealth of around $7 billion. Not only has he nearly tripled his wealth from $1.9 billion in 2008, he has also improved his standing from 376th earlier.

The magazine said the number of Asian billionaires went up substantially as the rich in the region expanded their fortunes at a quick pace last year.

Lending more credence to the increasing number of Chinese billionaires on the list is also the fact that the nation is likely to overtake Japan as the world's second-biggest economy this year.

Luo Laijun, an expert at the international economics department of Renmin University of China said improvements in market mechanisms over the past decades have helped create more wealth opportunities for Chinese people.

As per the latest ranking, Mexican telecom tycoon Carlos Slim is now the richest person in the world, pushing Microsoft founder Bill Gates into second place.

China has 825,000 residents with a net worth of more than 10 million yuan ($1.46 million) each, while 51,000 individuals have holdings of more than 100 million yuan each.


1. Which is the only country that has more billionaires than China?

2. Who is the richest man in China?

3. Who is the richest man in the world?


1. The United States.

2. Zong Qinghou, head of the Wahaha Group.

3. Carlos, a Mexican telecom tycoon.


(中国日报网英语点津 Helen 编辑)

Big billionaires are on a roll in China, says Forbes

About the broadcaster:

Big billionaires are on a roll in China, says Forbes

Renee Haines is an editor and broadcaster at China Daily. Renee has more than 15 years of experience as a newspaper editor, radio station anchor and news director, news-wire service reporter and bureau chief, magazine writer, book editor and website consultant. She came to China from the United States.