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There's a billion air as mainland prospers
Last Updated(Beijing Time):2007-10-11 10:01
The Chinese mainland now has more greenback billionaires than any country outside the United States, the ninth China Rich List compiled by researcher Rupert Hoogewerf showed yesterday.

Among the 800 rich individuals on the Chinese mainland, 108 are US-dollar billionaires, compared to 15 last year and none in 2002.

And Hoogewerf's Hurun Report added more than a cool billion to the worth of 26-year-old Yang Huiyan, the richest person on the mainland.

While the report agrees with the Forbes magazine rich ratings released on Monday that had Yang as the wealthiest mainlander, it disagrees with the amount.

The Hurun Report has her fortune at US$17.5 billion; Forbes at US$16.2 billion.

Yang, also Asia's richest woman, received her windfall after her father, Yang Guoqiang, transferred to her shares of Country Garden Holdings Co, a Guangdong-based real estate developer which made its debut on the Hong Kong stock market on April 20.

Yang listed No. 281 with a combined fortune of US$159.74 million last year.

Zhang Yin, 50, founder of the Nine Dragons Paper Co, fell to second place from last year's top seat with personal wealth totaling US$10 billion, according to the Hurun Report.

Zhang, the world's richest self-made woman, continues to widen the wealth gap with Western counterparts such as US television host Oprah Winfrey, eBay Inc founder Margaret Whitman and Harry Potter author J.K. Rowling, according to the report.

In third place was another developer, Xu Rongmao, whose net assets have reached US$7.5 billion. Huang Guangyu, who founded GOME Electrical Appliances Holdings and owns unlisted property businesses, is the mainland's fourth wealthiest, with US$6 billion.

Surging share prices created much of the wealth of those on Hoogewerf's list.

Nine made the list due to shareholdings in Minsheng Banking Corp - the most prominent creator of super-rich of any Chinese company.
Source:Shanghai Daily 
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