china-hotel china-hotels
Home China Global
Info Center
Destinations Flight Comparison Community guangzhou-hotels
My Account
Mainland Richest Man a Car Producer
Update: 9/29/2009 1:04:00 PM Source: China Hotels

Electric car producer Wang Chuanfu tops the Chinese mainland's richest people with wealth of US.1 billion, Hurun Report said yesterday in a preview of its latest China Rich List.

"It seems ironic to me that China's richest person could come from the car industry, especially considering the crisis this industry is facing across the world," says Rupert Hoogewerf, founder and compiler of the Hurun Rich List.

"But it is reasonable because Wang is leading the foray into the next generation of cars using clean technology," he added.

Wang, a 43-year-old Anhui native who was ranked 103 last year, saw his wealth shoot up fivefold when 27.8 percent owned, HK-listed BYD swelled in value after Warren Buffet bought 10 percent of the company a year ago.

Wang founded BYD in 1995 to produce rechargeable batteries for mobile phones. He entered the auto industry in 2003. BYD, listed on Hong Kong in 2002, was the world's first mass manufacturer to sell a plug-in electric hybrid car.

Hurun Report released the top two people on its list of the richest individuals on China's mainland.

The full China Rich List ranking the 1,000 wealthiest people will be published later in October.

The No. 2 spot went to Zhang Yin, who along with her family owns 72.25 percent of HK-listed Nine Dragons Paper. Zhang climbed 13 rungs to the second spot with wealth valued at US.9 billion, after her company's stock doubled in the past year.

Nine Dragons Paper imports recycled paper and processes it into packaging and paper materials primarily targeted at China's export industry.

The number of known US-dollar billionaires in China grew to 130 this year from 101 in 2008. The threshold to make the top 1,000 on the list rose 50 percent to US0 million. China's rich have put the credit crunch behind them, the report said.

The number of Shanghai natives on the list fell to 89 this year from 98.

Editor: canton fair

Canton Fair Hotel Special  Hong Kong Hotel Deals  Compare and Reserve International Flights


Related News

  • A Chinese Worker Economic Observation through Making Christmas Products
  • China Credit Card Defaults Rise 131%
  • Chininese Shoe Exporters Facing Pricing Pressures, Losing Money
  • Cantonese Exporters: No Merry Christmas
  • Dongguan Industries Upgrading in progress
  • Canton Fair Hotels | Canton Fair Hotel | Canton Fair Review | Canton Fair 2011 | 109th Canton Fair | China Hotels Review | Canton Fair
    Site Map | About Us | Terms and Conditions | Privacy | Communities | Contact Us | Links
    Foire de Canton Hôtels Chine | La Feria de CANTÓN Hoteles | Übersicht Kanton-Messe Hotels | Fiera di Canton Hotel Cina | Feira de Canton Hotéis
    Canton Fair 2011 | Shanghai Hotels | Guangzhou Hotels | Shenzhen Hotels | Dongguan Hotels | Beijing Hotels | China Hotels | China Accommodation
    Hangzhou Hotel | Shanghai Hotel | Guangzhou Hotel | Shenzhen Hotel | Dongguan Hotel | Beijing Hotel | Canton Fair | XiAn Hotel | Qingdao Hotel
    Hong Kong Hotels | Taipei Hotels | Tokyo Hotels | Los Angeles Hotels | Las Vegas Hotels | New York Hotels | HongKong Hotels | Frankfurt Hotels
    Copyright@2011, All Rights Reserved.