Number of billionaires in mainland China nears 65,000

By Park Sae-jin Posted : April 18, 2013, 15:12 Updated : January 1, 1970, 09:00
The number of billionaires in mainland China has neared 65,000, with the country's economy growing fast.

Citing data jointly compiled by the Shanghai-based Hurun Research Institute and a Chinese bank, Chinese media said the number of people in mainland China, who own assets worth 100 million yuan (approximately 18 billion won) or more, has reached 64,500.

By region, Beijing topped the 2013 list of rich individuals with 10,700 billionaires or 16.6 percent of the total, followed by Guangdong province with 9,600 billionaires or 14.9 percent, Shanghai with 8,500 billionaires or 13.2 percent, Zhejiang province with 7,700 billionaires or 11.9 percent and Jiangsu province with 4,900 billionaires or 7.6 percent.

By occupation, businessmen took the lion's share of 52,000 or 75 percent, according to the data.

More than two-thirds of the businessmen said they invested in real estate and stocks. Others said they invested in art works, jewelry, expensive alcoholic beverages, high-end watches and aircraft.

By sex, males accounted for 90 percent of the total billionaires, the data said.

By age, those aged 45 or above constituted more than a half of them.
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