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

📆 20/10/2020 11:29 pm
📰 malaymail

⏱ Reading Time:
33 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 86%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

SHANGHAI, Oct 20 — 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 today. The Hurun China Rich List 2020 also highlights China’s accelerated...

Tuesday, 20 Oct 2020 12:18 PM MYT

The Hurun China Rich List 2020 also highlights China’s accelerated shift away from traditional sectors like manufacturing and real estate, towards e-commerce, fintech and other new economy industries. The combined wealth of those on the Hurun China list — with an individual wealth cut-off of 2 billion yuan — totaled US$4 trillion, more than the annual gross domestic product of Germany, according to Rupert Hoogewerf, the Hurun Report’s chairman.

“The world has never seen this much wealth created in just one year. China’s entrepreneurs have done much better than expected. Despite Covid-19 they have risen to record levels.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China gives Shenzhen more autonomy for market reform, integration | Malay MailSHANGHAI, Oct 18 — China today detailed steps to grant more autonomy to Shenzhen, letting the southern financial and technology hub pilot reforms in market development and economic integration. The changes announced by the National Development and Reform Commission include more flexibility to...
Source: malaymail - 🏆 1. / 86 Read more »