Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Industries

    Nation's wealthiest see riches skyrocket

    By HE WEI in Shanghai | CHINA DAILY | Updated: 2020-10-21 06:28
    Share
    Share - WeChat
    Jack Ma delivers a speech at the Computing Conference in Yunqi town, Hangzhou city, East China's Zhejiang province in this 2017 file photo. [Photo/IC]

    More money made in 2020 than in five previous years combined, report shows

    China's richest individuals have recorded the biggest wealth increase in 22 years, thanks to a resilient, changing economy and a booming stock market bolstered by new growth momentum, as shown by the latest Hurun China Rich List published on Tuesday.

    The group, with minimum wealth of 2 billion yuan ($290 million), added $1.5 trillion based on calculations from Aug 28. That's equivalent to half the United Kingdom's annual GDP, taking them to a total of $4 trillion. That's more than the GDP of Germany, the world's fourth-largest economy.

    The Hurun China Rich List recorded more wealth created this year than in the previous five years combined, suggesting that "the structure of the economy has evolved, moving away from traditional sectors like manufacturing and real estate, toward the new economy", said Rupert Hoogewerf, Hurun Report chairman and chief researcher.

    While the first two months of the COVID-19 pandemic wiped out massive amounts of wealth, 2,398 billionaires made it to the list after a Vshaped recovery in which the economy quickly started to bounce back in the second two months and, since June, has seen a record wealth boom buoyed by the digital economy.

    Half of those on the list live in six large cities-Beijing, Shenzhen, Shanghai, Hangzhou, Guangzhou and Suzhou. Shenzhen's list of superrich grew the fastest, adding 84 individuals to a total of 275.

    The number of those boasting personal assets of $1 billion grew to 878, up from 621 in last year's measurement.

    "At this rate, it is expected to see 10 or more Chinese entrepreneurs break through the $100 billion mark within five years," Hoogewerf said.

    Healthcare overtook real estate to become the second-highest source of wealth, with 10.9 percent of the list. Manufacturing led with 23.8 percent, while real estate slipped to third at 10.6 percent, down from 14.8 percent, the biggest drop since records began in 1999.

    Jiang Rensheng, 67, chairman and general manager of Chongqing-based flu and meningitis vaccine producer Zhifei, saw his wealth almost triple to $19.9 billion after China's drug regulator announced it had approved clinical human testing of a COVID-19 vaccine.

    E-commerce also excelled as a wealth builder. Jack Ma, co-founder of Alibaba Group, had $58.5 billion, giving him the crown of richest person in China for the fourth time overall and the third time in a row. He was followed by Tencent's chairman, Pony Ma, who benefited from an expanding share of online gaming and digital business during the pandemic.

    Emerging star performers include Wang Xing, head of food delivery service Meituan Dianping, whose wealth quadrupled to $52 billion. Huang Zheng, CEO of e-commerce platform Pinduoduo, and Liu Qiangdong, head of online retailer JD, all saw significant wealth accumulation in a year of contagion, when the role of online-to-offline shopping has risen in prominence.

    A total of 27 people born in the 1990s made the list, 16 more than last year. Shenzhen-based Nie Yunchen, 29, founder of popular tea brand Heytea, was the only self-made tycoon under 30.

    Hoogewerf attributed the conspicuous wealth jump to robust stock market performance. The Shenzhen ChiNext had a barnstorming year, up 70 percent year-on-year. Nasdaq was up 48 percent and the Shenzhen main board up 45 percent.

    "This, combined with a flurry of new IPOs, was the main drive behind the record wealth creation on this year's Hurun China Rich List," he said.

    China now has the second-largest billionaire group behind the United States, despite COVID-19 putting a dent in global wealth accumulation, according to a separate report this month by UBS and consultancy PwC.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国精品无码一区二区三区在线| 日韩亚洲国产中文字幕欧美| 永久免费无码网站在线观看个| 一本无码中文字幕在线观| 国色天香中文字幕在线视频| 日韩乱码人妻无码中文字幕久久| avtt亚洲一区中文字幕| 亚洲国产av无码精品| 久久国产精品无码HDAV| 高潮潮喷奶水飞溅视频无码| 好看的中文字幕二区高清在线观看| 国产精品无码专区| 亚洲人成影院在线无码按摩店| 久久久噜噜噜久久中文福利 | 人妻无码人妻有码中文字幕| 国产精品亚洲а∨无码播放| 亚洲av永久无码精品国产精品| 日韩三级中文字幕| 最近中文字幕视频在线资源| 熟妇人妻VA精品中文字幕| 无码任你躁久久久久久久| 久久无码人妻精品一区二区三区 | 无码中文字幕av免费放dvd| 国产成年无码AV片在线韩国| 麻豆国产精品无码视频| 亚洲日本中文字幕一区二区三区 | 亚洲欧美在线一区中文字幕| 亚洲中文字幕无码一久久区| 人妻无码αv中文字幕久久琪琪布 人妻无码人妻有码中文字幕 | 亚洲AV中文无码乱人伦下载 | 久久精品国产亚洲AV无码偷窥 | 无码人妻熟妇AV又粗又大| 亚洲国产精品无码成人片久久| 精品无码一区二区三区电影| 潮喷失禁大喷水无码| 亚洲AV综合色区无码一区| 性无码专区无码片| 国产成人精品无码播放| 丰满白嫩人妻中出无码| 亚洲Av无码乱码在线znlu| 中文字幕精品一区二区精品|