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From Christine Gaylican, Opalesque Asia:

China now has more dollar billionaires, total of 130

The number of Chinese billionaires went up by 28.7% to 130 this year in spite the global downturn, according to the annual Hurun Report published today (Source).

The Asian country produced 130 high net worth individuals (HNWIs) with no less than $571 million worth of assets YTD, Hurun�s founder and compiler Rupert Hoogewerf said, comparing to the 101 rich individuals recorded last year.

�China�s wealth is growing at breakneck speed,� said Hoogewerf in the report. �Since our 2004 list, we have seen a 10-fold increase in the number of individuals with personal wealth of at least $150 million.�

In 2004, Hurun researchers could only find 100 individuals with US$150 million. This year, they managed to find 1000 individuals with $150 million.

�There are still a large number of billionaires off the radar screens, managing to build up substantial wealth away from the public spotlight from property, the stock market and investments,� he added.

Hurun, a luxury publishing and events group based in Shanghai, has been tracking China�s high net worth individuals since 1999.

China�s auto industry tycoon Wang Chuanfu took the number one spot in Hurun�s billionaires circle. His assets, valued at $5.1 billion (est.), were a result of the growth of the Chinese car industry this ye......................

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