Business
China’s sharemarket boom mints billionaires at record pace – The Australian Financial Review
This year’s Hurun China Rich List highlights the country’s accelerated shift from traditional sectors to e-commerce, fintech and other new economy industries.
More wealth was created this year than in the previous five years combined, with China’s rich-listers adding $US1.5 trillion, roughly half the size of Britain’s GDP.
Booming sharemarkets and a flurry of new listings have created five new dollar billionaires in China a week for the past year, Hoogewerf said in a statement.
“The world has never seen this much wealth created in just one year. China’s entrepreneurs have done much better than expected. Despite COVID-19 they have risen to record lev…
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