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Property slump reshapes list of China’s richest

Posted on 26 September 2012

Many of China’s richest citizens have seen their wealth shrink this year amid slowing growth and a weakening property market that has shifted wealth patterns in the world’s second-largest economy.
Nearly 50% of China’s top 1,000 wealthiest citizens have faced financial losses this year, with the average wealth falling 9% to $860 million from a year earlier, according to a new ranking of China’s richest from Hurun Report, a Shanghai-based group that follows wealth trends in the country. Thirty-seven of China’s richest have lost as much as half of their wealth and the number of dollar billionaires dropped to 251, 20 fewer than a year earlier, the report said………………………………………..Full Article: Source

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