Domestic Media Publishes List of Richest Chinese People

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Last updated at: (Beijing Time) Thursday, April 10, 2003

Domestic Media Publishes List of Richest Chinese People

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The April issue of Guangdong-based magazine "New Fortune" published the nation's first ranking list of richest Chinese people. Rong Zhijian of CITIC Pacific Limited toped the list to become the richest Chinese with a fortune of 6.11 billion yuan, followed by Lu Guanqiu of Wanxiang Group (5.24 billion yuan), Chen Lihua from Fu Wah International (3.85 billion yuan) and Liu Yongxing from East Hope Group (3.5 billion yuan).

The list of "Top 400 richest Chinese" is completed by a special investigation team which made surveys through practical channels in more than 10 provinces and cities during a year. And the 400 people were selected out from 2000 candidates after evaluation of each candidate's enterprise.

The 400 people, each in possession of a fortune no less than 200 million yuan, boast a total fortune equivalent to 303.1 billion yuan, almost three times of the GDP of Guizhou Province in 2001. The average fortune for the top 400 is 760 million yuan. The top 100 totally hold 168 billion yuan, 55.4 percent of the total figure of top 400 and 1.68 billion yuan for each person. Only 7 people among the 400 richest possess a fortune over 3 billion and 48 percent of them have a fortune valuing between 200 million and 500 million yuan.

The top 400 belong to 23 industries according to the business of their companies. And the list shows that China's rich people are mainly from real estate industry and traditional manufacturing industries, the two taking 41.1 percent of the total fortune of top 400.

By PD Online Staff Li Heng

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