Forbes China Releases List of Chinese Billionaires for 2013

Forbes China Releases List of Chinese Billionaires for 2013The 2013 Forbes China Rich List was recently released which showed that the number of billionaires in China with personal fortunes of more than US$ 1 billion have reached 168 a record high. Last year the number of billionaires was only 113 due to the dismal performance of the Chinese stock market.

The first time Forbes released the list of Chinese billionaires was in 2003 with one billionaire with a personal fortune of US$ 1 billion. This year’s threshold to be on the list is 600 million yuan. Total wealth of the top 400 rich Chinese people amounts to more than 3 trillion yuan which is up 35 percent on a year on year basis. Meanwhile the total wealth of the richest 100 Chinese people moved ahead 44 percent totaling 1.9 trillion yuan.

Dalian Wanda Group chairman Wang Jianlin tops the list for the first time amassing s fortune of 86 billion yuan which is up from 48 billion yuan compared last year. The company owns 40 hotels and 71 shopping malls and in September the company has invested 48 billion yuan in the Television and film industry in Qingdao. Beverage giant Wahaha Group chairman Zong Qinghou the richest on last year’s list took the second place having a personal wealth of 68 billion yuan as his company’s sales was up 9 percent in the first half of this year.

The third person to be on the list is Robin Li the CEO of Baidu Inc the largest search engine firm the country with a personal wealth increased to 67 billion yuan after having several successful acquisitions.

Even when the economic growth in the country has slowed down in recent years, its ongoing urbanization brought in revenues from sectors such as consumer products, services, healthcare, pharmaceutical, mobile internet and entertainment.

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