Report reveals identity of city’s wealthiest residents

Business owners, real estate investors and professional investors are the wealthiest people in Shanghai, according to Shanghai Wealth Report 2012, published on Friday by Hurun Report and the Australia-based independent financial adviser Gao Fu Wealth Management.     There are 370,000 people with 6 million yuan ($950,000) living in Shanghai today, or one-in-65 people in [...]

China / People Construction tycoon tops rich list

SHANGHAI – The Sany Group’s founder Liang Wengen is China’s richest man with a fortune of 70 billion yuan ($11 billion), according to the Hurun Rich List 2011.   The list, released by the Hurun Research Institute on Wednesday, showed that the nation’s most affluent group continued to expand rapidly this year, buoyed by China’s [...]

China ‘wealth exodus’ underestimated

  An emigration agency helps a client in Nanjing, Jiangsu province. Of about 960,000 Chinese with assets worth more than 10 million yuan ($1.6 million), 60 percent were either thinking about emigrating or taking steps to do so, according to the Private Banking White Paper 2011, released by Bank of China Ltd and the Hurun [...]