March 3, 2021 | Investopaper
The total number of billionaires in China has reached 1,058. China has become the first country in the world to cross the 1,000-billionaires mark. With the stock market booming, more than 250 new billionaires were added to China in 2020.
The number of billionaires in China has more than doubled in the past five years, according to a list released by the Hurun Global Rich List on Tuesday. China, the world’s second-largest economy, has seen rapid growth over the past few years.
According to Hurun, 259 new people in China have entered the billionaires list. In comparison, only 70 new billionaires have emerged in the United States. Including this, the total number of billionaires in the United States has reached 696.
Although the coronavirus epidemic has severely affected the economy in most countries of the world, China has made good progress in 2020 after dramatically controlling the coronavirus in a timely manner.
Overall, China is leading the world in terms of wealth creation. According to Hurun, China has added 490 new billionaires in the past five years, while the United States has added 160.