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

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[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. Read more at The Business Times.

More wealth was created this year than in the previous five years combined, with China's rich-listers adding US$1.5 trillion, roughly half the size of Britain's GDP.

"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." 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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Stock market boom, new listings mint China billionaires at record paceSHANGHAI (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.
Source: The Straits Times - 🏆 8. / 63 Read more »