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by Kalinda on June 4, 2012|
Billionaire philanthropist Chen Guangbiao performs a stunt on a bicycle. (Photo/CNS)
About 346,000 people in the Yangtze River Delta region of eastern China boast personal wealth of more than 10 million yuan (US$1.57 million). Of them, 20,800 have assets worth more than 100 million yuan (US$15.7 million). This means that one in every 451 people in the region has personal wealth of more than 10 million yuan (US$1.57 million) and one in every 7,500 people has over 100 million yuan (US$15.7 million), according to the recently released 2012 Yangtze River Delta Wealth Report.
The report said the number of people in the region with personal wealth of more than 6 million yuan (US$942,000) was 938,000.
The region, which includes the financial capital of Shanghai as well as the parts of the wealthy coastal provinces of Jiangsu and Zhejiang also has the largest proportion of China’s super-rich, defined as those with personal assets of over 2 billion yuan (US$314 million). Of these, about 1,000 live in the delta, while 326 appeared on the 2011 Hurun Rich List, including 72 women. The country has 2,500 people classed as super-rich.
Apart from Shanghai, other cities in the region with the largest proportions of wealthy individuals were Hangzhou, Suzhou, Ningbo, Shaoxing, Wenzhou and Wuxi.
Zong Qinghou, the founder, chairman and CEO of Hangzhou Wahaha Group, a leading beverage company, was named the region’s richest man, with personal wealth of 68 billion yuan (US$10.7 billion).
Zhejiang had the most number of super-rich people with 141; followed by Jiangsu with 103 and Shanghai with 82.
The report said rich people in the region are mainly divided into four types: owners of enterprises (50%); stock investors (20%); and property investors and senior executives at international business groups and large enterprises, (15% each).
Taobao, Wahaha and Suning Appliance were the three wealthiest private enterprises in the region.
In addition, 87.5% of the listed entrepreneurs born in the Yangtze River Delta region had chosen to remain there to develop their businesses, while 9% of the people on the list came from political backgrounds.
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