Liang Wengen tops China rich list in 2011

Liang Wengen, the founder and president of Sany Group, has topped?Hurun China rich list for 2011, sina.com reported.

The 55-year-old tops the rich list by possessing 70 billion yuan ($10.8 billion) in assets from his heavy machinery company.

Liang's fortune rose 89 percent compared to 2010 and his rank is up from 4th last year. Liang possesses 58 percent of the Sany Group stock and his main fortune is from two listed companies within the group.

Zong Qinghou, founder of China's largest beverage producer, Wahaha, ranked second with assets of 68 billion yuan.

The list reveals that in 2011 there are 127 persons who each have a fortune of more than ten billion yuan, a 30 percent rise compared to the 2010 figure.

The average fortune of the top 1,000 is 5.9 billion yuan, a 20 percent rise compared to 2010.

Rupert Hoogewerf, the founder and publisher of the list, said: "It seems that the global financial crisis does not bother Chinese entrepreneurs."