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.
China
stories are told at wenhousecrafts.com
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