Wahaha's Zong Qinghou tops Chinese Rich List

15:00, September 30, 2010      

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Hangzhou-based Wahah Group Co. chairman Zong Qinghou was named China's richest man by the Hurun Report's Rich List with an estimated 80 billion yuan (12 billion U.S. dollars) of personal wealth, China News Service reported on Friday.

Li Li, chairman of Shenzhe Hepalink Pharmaceutical Co., and his family were surprisingly ranked second richest with 40 billion yuan (5.8 billion U.S. dollars) of wealth, followed by Nine Dragons Paper's Zhang Yin and her family with 38 billion yuan (5.6 billion U.S. dollars)

Liang Wengen, chairman of Sany Heavy Industry Co., Ltd, ranked the fourth and Baidu CEO Li Yanhong and Yanbin, chairman of the Yanbin Group, tied for fifth.

The list shows two out of the top five are mainly engaged in the food and beverage industry and there are no rich from the real estate industry in the top 10, which is the first time in the past decade.

This years' Hurun Rich List covers all of China's provinces, cities and autonomous regions for the first time. A total of 1,363 Chinese rich were placed on the list based on a threshold of 1 billion yuan (around 150 million U.S. dollars), which is 363 more than last year. The average age of those on the list is 51 years.

This is the 12th annual list released by Hurun and the complete list will be released in October.

By Liang Jun, People's Daily Online


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