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The rich get richer, only more slowly (2)

(Shanghai Daily)

08:20, September 09, 2011

Other than Liang, another six Sany executives have hit the chart, including three billionaires in the top 100, making the company the biggest home to those on the list.

Forbes named a record 146 dollar-billionaires on China's mainland this year, up from 128 last year and 79 in 2009. The youngest, 29-year-old Yang Huiyan, of property developer Country Garden, ranks 11th.

However, a growing number of China's rich are trying to avoid publicising their wealth, Forbes said, reflecting fears of official scrutiny.

More of the newly rich than in recent years asked to be left out of the rich list, according to Flannery, and "there is a lot of concern in China about the wealth gap."

At least 29 individuals on the list between 1994 and 2008 have been imprisoned. Among them was Huang Guangyu, founder of Gome Electrical Appliance and the richest person in 2006, who was jailed in 2008 for insider trading.

Zhou Zhenyi, a former Shanghai property tycoon, was sentenced to 16 years in 2007 for offering bribes.

The Forbes list this year is based on August 19 stock and currency prices, while Hurun's list is a snapshot of August 15.

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