Forbes Asia magazine published its list of China's 40
richest businesspeople yesterday and all the top ten were
calculated to be US$-billionaires, compared to only three last
year.
Larry Rong Zhijian, 63-year old chairman of Hong Kong-listed
CITIC Pacific Group, maintained his position at the top with his
net worth increasing US$150 million this year to US$1.64
billion.
In second place was real estate tycoon Zhu Mengyi, whose net
worth was reckoned at US$1.43 billion. The 46-year old, who ranked
10th last year, saw his fortune triple in the past twelve
months.
Third on the list was 34-year old William Ding Lei, founder of
Internet portal NetEase. The NASDAQ-listed company's boss had an
estimated fortune of nearly US$1.3 billion, up from US$668 million
last year. He led the 2003 list but dropped to sixth last year
following a downturn in the dotcom industry.
Wong Kwong Yu, founder of Gome, the mainland's largest home
appliance retail chain, dropped from last year's second position to
fourth.
But according to today's China Daily, the 36-year-old
placed first on a competing list published by Euromoney
China last month, which judged his wealth to be US$1.7 billion
rather than Forbes' US$1.25 billion figure.
Another difference between the two lists was that
Euromoney's No.2, Yan Jiehe, was not placed by
Forbes at all. Euromoney estimated the 45-year
old chairman of Pacific Construction Group to be worth US$1.5
billion.
Russell Flannery, chief of Forbes' Shanghai Bureau,
said yesterday that due to the complicated financial structure of
Yan's company, Forbes could not get a clear picture of his
fortune. The magazine took a cautious attitude while compiling the
list, he said.
Rebutting reports that Yan had reached a private agreement with
Forbes not to put him on the list, Flannery said the
magazine is closely watching Yan's company and would name him on a
list in the future.
The youngest on the list was 24-year-old Li Zhaohui, at 26th
place with an estimated wealth of US$410 million. He inherited his
father's business, Shanxi-based Haixin Steel, last year.
The oldest was Chen Lihua, the 64-year old chairwoman of Fu Wah
International HK Group, placed 19th with an estimated fortune of
US$490 million.
(China Daily November 4, 2005)