CHINA-INTERNAL: ECONOMY/WEALTH
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According to the Hurun Report issued on February 24, 2016, China minted 90 new billionaires last year giving it for the first time more billionaires than the US, 568 to 535. The Hurun Report said that with 32 new billionaires, Beijing topped 100, replacing New York — with only 95 — as the billionaire capital of the world. Since 2013, China has seen its number of billionaires grow by 80%.In addition to Beijing, four other Chinese cities made the top 10 list of most billionaires: Hong Kong, Shanghai, Shenzhen and Hangzhou.The combined net worth of the Chinese billionaires is $1.4 trillion. Real estate generated the most billionaires (117), followed by Manufacturing and Tech with 94 and 68, respectively. Average age of the billionaires is 56. China is the No. 1 in the world in terms of generating self-made billionaires akin to “rags to riches.” Wang Jianlin, 61, of Wanda was the richest Chinese with $26 billion just ahead of Li Ka-shing, 87. Jack Ma, 51, of Alibaba was fourth with $21 billion.
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