China has witnessed a sharp rise in the number of ultra-wealthy individuals over the past year, driven by a robust stock market and the rapid growth of “new economy” sectors, according to the Hurun Research Institute.

The institute’s latest China Rich List recorded a total of 1,434 individuals, each with a net worth of at least 5 billion yuan (US$702 million, an increase of 340 people, or 31%, from the previous year. Collectively, their wealth reached 30 trillion yuan, marking a 42% surge compared with last year.

This marks an increase of 340 individuals, or 31 per cent, compared to the previous year.

Zhong Shanshan reclaims the top spot

Zhong Shanshan, who controls China’s largest bottled water producer Nongfu Spring, reclaimed his position as the richest person in China, with his for

See Full Page