Stock market boom, new listings mint China billionaires at record pace

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SHANGHAI (REUTERS) - 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.. Read more at straitstimes.com.

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.

 

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