Richest
Chinese Is a Paper Lady
It’s
official. According to Hu Run’s Rich
List released in Shanghai on Wednesday,
this year’s richest person in China is
a woman.
Zhang
Yin, 49, a Heilongjiang native in China’s
northeast, is a paper recycling
entrepreneur with an assets estimated at
27 billion yuan (3.3 billion usd). Among
the world’s self-made richest women,
she ranks the number one.
Last
year’s richest person in China slides
down to 16th spot. He could
fall further back as he is unfortunately
involved in several lawsuits relating to
his 32 million yuans of unpaid debts, and
his assets actually have been frozen by
the court order.
Not
surprisingly, the property developers
make the strongest entry onto the list,
with one in every four being engaged in
this lucrative and murky business. But IT
elites aren’t doing very well this
round, and they have been in fact
sidelined all together.
This
year’s entry threshold is a hefty 800
million yuans (100 million usd). And the
overall assets of the 500 people on the
list value at 1.1 trillion yuans,
accounted for 6 per cent of China’s
annual GDP in 2005.
Among
the 500 richest Chinese, about one thirds
are the members of the ruling Party,
which certainly makes many people pause
and muse.
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