- China Business Blog - http://www.chinabusinessservices.com -

The Nouveau Riche Niche

The Harmonious Society is a worthy aim indeed, but it is (or was) also glorious to be rich [1]. We already know something about what the merely wealthy like to buy [2], but Forbes gives some insight into who those at the top of the pile in China are today.

The top 10 rankings from Forbes are as follows (the rest can be viewed via the article link below):

Rank / Name / Net Worth ($ bil) / Main Business / Residence / Industry

1 – Yang Huiyan – 16.20 – Country Garden – Guangdong – Property
2 – Hui Wing Mau – 7.30 – Shimao Property Holdings – Hong Kong – Property
3 – Guo Guangchang – 4.85 – Fosun International – Shanghai – Conglomerate
4 – Zhang Li- 4.75 – Guangzhou – R&F Properties – Guangdong – Property
5 – Zhang Jindong – 4.50 – Suning Appliances – Jiangsu – Retail
6 – Xiaofeng Peng – 3.85 – LDK Solar – Jiangxi- Solar
7 – Zhang Xin – 3.80 – SOHO China – Beijing – Property
8 – Lu Zhiqiang – 3.70 – China Oceanwide – Beijing – Property
9 – Larry Yung – 3.65 – CITIC Pacific – Hong Kong – Conglomerate
10 – Wong Kwong Yu – 3.60 – Gome Electrical Appliances – Beijing – Retail

It is just another reminder that per capita figures in China (increasingly impressive as they may be) do not tell the whole story. And the whole story is something that many companies still need to hear – including the (very) luxury car maker who recently reported to an associate that there was no market for them in China, as the people are too poor. (For more on how high-end cars are selling like hot cakes, see this post [3]on The China Game).

It may still be a niche market, but it can be a very nice niche these days!

See news source: