News Formal

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

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

[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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 15. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

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 »