China’s rich count dips, as economy suffers
8 Oct 2012 12:07 AM GMT
As the Chinese economy slowed down due to steady fall in exports, the wealth of some of the country's richest people registered a decline in the past year.
According to the Hurun Rich List, China has 251 people worth USD one billion or more, 20 fewer than last year. However, the number of Chinese billionaire has increased many folds compared with 2006, when there were only fifteen. It is the first time in seven years that the number of billionaires in China has fallen. The Chinese economy has slowed in recent months with growth falling to a three-year low of 7.6 per cent, compared with the previous year. Of the 1,000 richest people tracked by Hurun, nearly half saw their wealth shrink in the past year, BBC reported.
However, according to the report the number of Chinese millionaires in China continued to grow.
WEALTH WATCH
According to the Hurun Rich List, China has 251 people worth USD one billion or more, 20 fewer than last year. However, the number of Chinese billionaire has increased many folds compared with 2006, when there were only fifteen. It is the first time in seven years that the number of billionaires in China has fallen. The Chinese economy has slowed in recent months with growth falling to a three-year low of 7.6 per cent, compared with the previous year. Of the 1,000 richest people tracked by Hurun, nearly half saw their wealth shrink in the past year, BBC reported.
However, according to the report the number of Chinese millionaires in China continued to grow.
WEALTH WATCH
- It is the first time in seven years that the number of billionaires in China has fallen
- The Chinese economy has slowed in recent months with growth falling to a three-year low of 7.6 per cent
- Of the 1,000 richest people tracked by Hurun, nearly half saw their wealth shrink in the past year, BBC reported
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