SHANGHAI - China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released on Tuesday.
Ant is expected to create more mega-rich through what is likely to be the world's biggest initital public offering , as it plans to raise an estimated US$35 billion through a dual listing in Shanghai and Hong Kong. Booming stock markets and a flurry of new listings have created five new dollar billionaires in China a week for the past year, Mr Hoogewerf said in a statement.
More on this topic China has accelerated capital market reforms to aid a virus-hit economy, accelerate economic restructuring and fund a"tech war" with the US.