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10-13-2009, 07:16 PM
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#1 | | y'all better put some respeck on my name
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| China's super-rich bounce back from financial crisis
Quote:
China's super-rich bounce back from financial crisis
BEIJING (Reuters) - China's super-rich have bounced back from the financial crisis with a vengeance, and China now has more known dollar billionaires than any other country bar the United States, according to a new report released on Tuesday.
The annual Hurun Report said China has 130 known dollar billionaires, up from 101 last year. The number in the United States is 359 while Russia has 32 and India 24, according to Forbes magazine.
China's rich are getting richer, with the average wealth on the list $571 million, up almost one-third from last year, said compiler Rupert Hoogewerf.
"With the greatest wealth destruction in the west of the last 70 years, we've seen China buck the trend and the wealth seems to be still growing," Hoogewerf told Reuters on the sidelines of an event to unveil the 2009 rich list.
"They've put the credit crunch behind them," he said. "The key driver has been urbanization. You've got all these cities being built, and that requires property developers, iron and steel manufacturers. The latest thing is cars."
Topping the list was Wang Chuanfu, chairman of electric car and battery maker BYD Co Ltd in which U.S. billionaire Warren Buffett holds a stake, with an estimated personal wealth of $5.1 billion. He was also the fastest riser from last year, up 102 places.
Second place went to Zhang Yin and family, owner of paper recycler Nine Dragons Paper, while in third place was Xu Rongmao and family, owner of Shimao Property Holdings Ltd.
Huang Guangyu, who founded GOME Electrical Appliances Holdings Ltd and owns unlisted property businesses, sank to 17th place from the top position he held last year. He is currently being probed for alleged financial irregularities.
Hoogewerf said the actual number of dollar billionaires could be higher than estimated.
"Either they are super-discreet, or perhaps they haven't come to the surface," he said. "Having said that, the transparency of wealth ... is now very much in the open. There's many more listed companies."
Hoogewerf said people who probably should have been listed, but about whose wealth not enough in known, included Liu Chuanzhi, chairman of the world's No. 4 PC maker Lenovo, and Chen Feng, founder of Hainan Airlines.
China's ruling Communist Party once condemned entrepreneurs and private business people as capitalist exploiters, but now welcomes them since late reformist leader Deng Xiaoping began landmark economic reforms in the 1970s.
One third of the people on the 1,000-name rich list are estimated to be Party members, according to the report.
Still, one famous name fell off the list this year -- NBA basketball player Yao Ming, who has struggled with a foot injury for the last few months.
(Editing by Sugita Katyal)
| http://finance.yahoo.com/news/Chinas....html?x=0&.v=1 | 
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10-13-2009, 07:38 PM
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#2 | | x_x
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10-13-2009, 07:45 PM
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#3 | | RS.net, helping ugly ppl have sex since 2001
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China WILL rule the world.
Probably not anytime soon though.
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10-13-2009, 08:03 PM
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#4 | | Ubereem Mod
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pretty interesting news story.
thanks!
__________________ Quote:
Originally Posted by Culture_Vulture  sometimes I like to use kindergarten art class scissors to cut my pubes | | |
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10-13-2009, 08:15 PM
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#5 | | Rs has made me the man i am today!
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| Quote:
Originally Posted by jdmhaze | Sit down, boy. 
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nns | |
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10-13-2009, 09:07 PM
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#6 | | I WANT MY 10 YEARS BACK FROM RS.net!
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10-13-2009, 09:08 PM
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#7 | | Banned (ABWS)
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Guess that's what happens when the US dumps money into a country instead of bombs.
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10-13-2009, 09:15 PM
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#8 | | WOAH! i think Vtec just kicked in!
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given China's current growth projection give them another 25 years they might even surpass U.S. GDP
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10-13-2009, 09:40 PM
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#9 | | Unofficial Tin Foil Hat Specialist.
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Everyone else was busy trying to take over the world with wars while China's way of taking over the world was by busy reproducing people to spread the world  | |
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10-13-2009, 11:12 PM
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#10 | | y'all better put some respeck on my name
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I was watching a story on MSNBC last night about how China is buying up oil rigs all over the world and basically investing and buying into all industries. China also knows by holding onto the US dollars is dangerous so they're quickly turning, what could be worthless paper in the few years, into hard assets.
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10-14-2009, 02:48 AM
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#11 | | I subscribe to the Revscene NWS thread(s)
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you guys think it is safe yet to return to the motherland?
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Originally Posted by boss_clad why you hating on the boss, anyways? | | |
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10-14-2009, 03:07 AM
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#12 | | OWNER/C.F.O./MONEYMAN
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china teaming up with korean teaming up with japan to be the new powerhouse to control the world.
the numbers listed are probably just the tip of the iceberg compared to how much hidden wealth and corrupt wealth under the china gov't...
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10-14-2009, 03:16 AM
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#13 | | I contribute to threads in the offtopic forum
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| Quote:
Originally Posted by asian_XL CHINA RICHEST GUY, owner of BYD...and he made THESE  | My understanding is that a big chunk of BYD's business comes as a Tier 1 battery supplier to big automotive brands such as Toyota. Think of the cars a sa side business.  Oh, and did I mention there are TONS of BYDs on the road in China last time I checked? There's a reason Warren Buffett dropped millions into them.
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10-14-2009, 05:54 AM
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#14 | | ESKETIT
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go china!
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10-14-2009, 06:12 AM
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#15 | | My homepage has been set to RS
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^ There is a reason allot of people have fled China, even the rich....it is scary China is gaining power....they could care less about human rights, democracy, or free speech.....all the money in the world means nothing, if you don't basic rights.....
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10-14-2009, 07:56 AM
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#16 | | I WANT MY 10 YEARS BACK FROM RS.net!
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Originally Posted by Z3guy ^ There is a reason allot of people have fled China, even the rich....it is scary China is gaining power....they could care less about human rights, democracy, or free speech.....all the money in the world means nothing, if you don't basic rights..... | have you ever lived in China or other place except Canada?
for an average person (with no political background), the life in China is no
different from the one in Canada or US. People there make money the same
way we do, they go home and fuck their wife like everybody else.
It's silly to say oh, the chinese don't have the freedom of speech and human
rights. You just need to learn to keep it real at a place you are not supposed
to say trash. Calling Mao is a homosexual in Tianmen Square is as stupid as
telling racist jokes in front of a group of black guys. Every place has its own
rules, same as RS and Canada...If you don't like, you are free to leave. If
you insist to break the rule, you ask for it.
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10-15-2009, 07:00 AM
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#17 | | Marcosexual Fan Club, CEO
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Originally Posted by slammer111 My understanding is that a big chunk of BYD's business comes as a Tier 1 battery supplier to big automotive brands such as Toyota. Think of the cars a sa side business. Oh, and did I mention there are TONS of BYDs on the road in China last time I checked? There's a reason Warren Buffett dropped millions into them. | Yeah, the Chinese auto industry is a protected market from imports. Their automakers can produce garbage and still sell like hot cakes, which is what they do.
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Poor is the man whose pleasures depend on the permission of another.
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10-15-2009, 07:02 AM
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#18 | | Marcosexual Fan Club, CEO
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| Quote:
Originally Posted by asian_XL have you ever lived in China or other place except Canada?
for an average person (with no political background), the life in China is no
different from the one in Canada or US. | You gotta be fucking kidding me. For most Mainlanders, life is nasty, brutish and short.
__________________
Poor is the man whose pleasures depend on the permission of another.
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10-15-2009, 09:43 AM
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#19 | | WOAH! i think Vtec just kicked in!
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Originally Posted by ZhangFei you guys think it is safe yet to return to the motherland? | Should be. The Olympic volunteers in Beijing last year implored me to come back to the Motherland and help the rise as she said "we are strong now!"
It nearly brought tears to my eyes (no joke).
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10-15-2009, 02:32 PM
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#20 | | Need my Daily Fix of RS
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Originally Posted by achiam Should be. The Olympic volunteers in Beijing last year implored me to come back to the Motherland and help the rise as she said "we are strong now!"
It nearly brought tears to my eyes (no joke). | Exactly, China is strong now, time for you and me to go back and have our pieces of cake.
Get rich in China is easier than get rich in Canada.
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10-15-2009, 02:40 PM
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#21 | | Rs has made me the woman i am today!
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It makes me wonder, does this thread relate to this one? http://www.revscene.net/forums/power...i-t592643.html | |
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10-15-2009, 06:06 PM
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#22 | | I contribute to threads in the offtopic forum
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Originally Posted by ZhangFei you guys think it is safe yet to return to the motherland? | yes, please go
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