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Over 30% of China’s Richest People Involved in the Real Estate Industry

A report by the Chinese Alumni Association website showed that 30% of the Chinese whose assets are 100 million Yuan ($17 million) or more are involved in the real estate industry. The report analyzed China’s magnates based on Hurun’s China’s top 100 richest people and Forbes’s China’s billionaire club from 1999 to 2009. The report also showed that over 50% of these richest people concentrated in three industries: real estate, energy, and IT. The number of elite without overseas experiences is significantly more than those with overseas experiences.

Source: Xinhua, May 26, 2010