Forbes Global's third annual compilation of China's richest business people (seven are women) for 2001 contains 100 names, twice the number in its two previous rankings. This time, the definition of Chinese business people has been expanded to include anyone who was born and grew up in China and conducts business there.
Forbes says that the survey reflected the fact that vast new fortunes are being made in China and that it is becoming easier to spot them.
"It would have been virtually impossible to have compiled a list of 100 millionaires in China two years ago," the magazine says.
Now US$60 million in personal wealth is required to get on the list. In 2000, the first name on the list weighed in with US$42 million (now the 50th-richest person in China is worth US$110 million). In 1999 No. 50 had US$6 million.
Nearly half the people on the list have at least one subsidiary that's publicly quoted. Of these, 29 are listed on the mainland; 14 in Hong Kong, 4 in Singapore and 3 in the US (2 have more than one listing).
The top 15:
(name, 2001 wealth, company)
1. Liu Yongxing, Liu Yonghao and brothers, US$1,000 m, Hope Group
2. Yang Bin, US$900 m, Euro-Asia
3. Yang Rong, US$840 m, Brilliance China
4. Larry Yung Chikin, US$780 m, CITIC Pacific
5. Hui Wingmau, US$723 m, Shimao
6. Chan Laiwa, US$640 m, Fuwah
7. Lu Guanqiu, US$480 m, Wanxiang
8. Wu Yijian, US$480 m, Jinhua
9. Sun Guangxin, US$430 m, Guanghui
10. Zhang Simin, US$420 m, Neptunus
11. Liu Hanyuan, US$320 m, Tongwei
12. Rong Hai, US$300 m, Seastar
13. Zhang Yang, US$280 m, Interchina
14. Tao Xinkang, US$265 m, Xin Gao Chao
15. Yang Zhuoshu, US$250 m, Zhuoda
(China Daily HK Edition August 24, 2002)
