China's rich get richer despite slowdown of economy: Forbes
AFPSHANGHAI--China's 400 richest people became US$150 billion wealthier this year, Forbes magazine said Wednesday, despite a slowdown in the world's second largest economy.
October 17, 2013, 12:03 am TWN
The vast increase — an average of almost US$400 million each — highlights the growing inequality between the Communist country's superrich and the millions who still live in poverty.
“The rich are getting richer,” Forbes Shanghai bureau chief Russell Flannery told a press conference as the magazine unveiled its annual China rich list.
“The rapid growth of wealth in China seems to be out of line with the Chinese economic slowdown,” he said.
The net assets of the top 100 richest people in China soared 44 percent from a year earlier to US$316 billion, the magazine said, while the number of dollar billionaires rose to a record high of 168.
That came even as China's economy has slowed. The Chinese economy expanded 7.7 percent last year, the worst performance since 1999.