According to a list released yesterday, the fortunes of China’s richest billionaires are shrinking rapidly as hard times hit the country’s stock and property markets.
Appliance and property tycoon Huang Guangyu, a 39-year-old entrepreneur with assets estimated at 43 billion yuan ($6.3 billion) tops the list of China’s 1,000 wealthiest individuals compiled by Shanghai-based analyst Rupert Hoogewerf.
Huang, who controls Read more…
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The UK’s Financial Times Group aims to launch its first Chinese-language magazine ahead of the Summer Olympics in Beijing as a means of targeting China’s growing business elite.
The magazine, called “Rui”–the Chinese word for intelligence, would be the first in China to be published by a wholly foreign-owned company. The FT said it was in the process of obtaining approval from Chinese authorities to distribute the monthly in China where the media industry is still tightly regulated. If successful, the new monthly would have original content about wealth management and the lifestyle of China’s growing business ranks, as well as stories translated from FT publications.
FT, which does not include “politically-sensitive” content, is likely to have access to China market , since China is eager to show the world it is committed to its “opening-up” policy. The magazine also offers a chance for foreigners to know the lifestyle and wealth in China.
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According to a list released yesterday, the fortunes of China’s richest billionaires are shrinking rapidly as hard times hit the country’s stock and property markets.