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Last Updated: Friday, 4 November 2005, 13:14 GMT
Chinese billionaires on the rise
The Shanghai World Financial Centre will be the world's tallest building when it is completed
China's building boom has enriched property developers
The number of Chinese billionaires has more than doubled in the past year, according to a survey.

Forbes Asia magazine's annual Chinese rich list found that there are now 10 US dollar billionaires in China compared with three a year ago.

China's economy has been expanding rapidly, boosting the personal wealth of the country's leading entrepreneurs.

Businessman Larry Rong Zhijian remains China's richest man, with an estimated fortune of $1.64bn (929m).

The son of former Chinese vice premier Rong Yiren is chairman of Hong Kong-based investment firm China International Trust and Investment Corporation.

Property boom

CHINA'S RICHEST
Larry Rong Zhijian: $1.6bn
Zhu Mengyi: $1.4bn
William Ding Lei: $1.27bn
Wong Kwong Yu: $1.25bn
Source: Forbes

The combined wealth of China's 100 richest people now exceeds $41bn, the survey found, compared with $29bn a year ago.

The construction boom of recent years has enriched a host of property developers headed by Zhu Mengyi, China's second richest man with an estimated fortune of $1.4bn.

Other businessmen featuring in the list include William Ding Lei, founder of US-listed business Netease.com, and Wong Kwong Yu, founder of electronics retailer GoMe Appliances.

"Brisk economic growth and a huge appetite among foreigners for Chinese investments helped to propel the wealth of China's richest people in the past 12 months," Forbes Asia said.


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