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Beijing Beats New York as Home for Most Billionaires

beijingwalker

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Beijing Beats New York as Home for Most Billionaires
April 8, 2021

Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes’ annual rich list.

The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine.

This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years.

 

dbc

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Beijing Beats New York as Home for Most Billionaires
April 8, 2021

Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes’ annual rich list.

The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine.

This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years.

Just curious, how many CPC members and princelings are in that list of Beijing billionaires?
 

beijingwalker

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Just curious, how many CPC members and princelings are in that list of Beijing billionaires?
None in top 10 at least, Alibaba, Tencent, Huawei, Xiaomi, Jingdong, Baidu... they were all self made from scratch, many of their founders are from poor vilages and they all made their tremendous wealth in just a couple of decades.
 

StraightEdge

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Beijing always has more rich people than Shanghai and the margin is always very big, Beijing's GDP per capita is also higher than Shanghai.
Doesn't Shanghai have more GDP than Beijing? I was also watching few Chinese dramas (eg., Nothing but Thirty) , where usually I got the impression that Shanghai is more richer/business oriented city.
 

KurtisBrian

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Wealth inequality and ensuing extremely violent revolutions something China is famous for. Thieves will not be finding a safe haven in Mercia, aka the Americas.
 

beijingwalker

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Beijing ranks first in total market value of listed firms
By Yang Yang | chinadaily.com.cn | Updated: 2021-01-18 10:59


A view of Beijing on Oct 28, 2020. [Photo/IC]

Beijing ranks first among all the cities in the Chinese mainland in terms of market value of all listed companies, Securities Times reported on Monday.

With a 27.18 trillion yuan ($4.19 trillion) market value for its 659 listed companies, China's capital city of Beijing has taken a leading role on the list of cities with the highest total market value of listed companies.

South China's Shenzhen and the country's financial center Shanghai took the second and third spots with a total market value of 16.36 trillion yuan and 12.42 trillion yuan, respectively.

Data showed the total market value of listed companies in the Chinese mainland reached 116 trillion yuan at the end of 2020, up nearly 29 trillion yuan from the end of 2019.

Meanwhile, the private economy has played an essential role in the development of the urban economy, according to the report.

Among the top five cities on the list in 2020, Shanghai performed the best, with its total market value increasing over 53 percent, narrowing the gaps with Beijing and Shenzhen.

Wuxi in East China's Jiangsu province entered the top nine for the first time with a total market value of 1.39 trillion yuan at the end of last year.

The market value of North China's Tianjin reached 1.2 trillion yuan during the same period, paving the way into the top 10 on the list.

The stock market is considered a barometer of the economy, and the number, scale and competitiveness of a city's listed companies reflect the city's comprehensive competitiveness.

 

aziqbal

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I suggest you read this paper, inequity is rising in China

Inequality in China – Trends, Drivers and Policy Remedies
 

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