The People's Republic of China is now home to the largest group of dollar billionaires outside of the United States, according to Forbes Magazine. The esteemed American magazine lists no less than 130 Chinese citizens with a personal fortune above the one-billion-USD mark, compared with 359 U.S. 'colleagues'.
And the current figure may just be the beginning. In spite of the ongoing global economic crisis, the Chinese super-rich segment appears to be amassing even more wealth. The richest Chinese of all is Wang Chuanfu, head of the BYD conglomerate – the world's largest manufacturer of cell phone batteries and a soon-to-be global contender in the production of car batteries. According to Forbes Magazine Mr. Wang can boast a personal fortune of no less than 25 billion USD, also making him one of the richest men on the planet.
This large amount of ubercapitalists in a People's Republic run by a communist party might seem like a bit of a contradiction of terms, but China's decades of booming economic growth has completely altered many parts of Chinese society, and even let to the Communist Party of China welcoming capitalists into its ranks with wide open arms. Today it is estimated that one third of the Middle Kingdom's wealthy elite also carry a Party membership card.
Full story in Danish
News category: China
Published on this site: Oct. 14, 2009
Source: dr.dk