Top 10 richest families in China

Chinese wealth management journal Money Week published the rich list of Chinese families 2011 in July, the fourth issue of the kind.

Liang Wengen's family from Sany Group tops the general list with a wealth of 59.8 billion yuan (US$9.2 billion), the first time for him to be ranked as the top rich in China, followed by Li Yanhong's family from Baidu and Xu Jiayin's family from Evergrande Real Estate Group.

A total of 23,179 Chinese families were included on Money Week's lists this year. Bio-technology, information technology, new energy technology and manufacturing industris are the fields where a great number of unexpected new rich families came from this year.

Based on the statistics of the rich lists, the number of rich families in the manufacturing industry reached 2,018, and the number in the field of bio-technology reached 1,236. In the field of information technology, the number was as high as 3,789, but the total wealth value of the industry was much less than those in the fields of bio-technology, new energy and manufacturing industry, with only two families, Jiang Bin family from Goerteck and Gong Hongjia family from Hikvision, having wealth values of more than 10 billion yuan (US$1.55 billion).

What else could be seen from the lists is that the real estate industry has gradually lost its core competitiveness. The total wealth value of listed real estate families dropped from last year's 2.2454 trillion yuan (US$348.52 billion) to this year's 445.7 billion yuan (US$69.18 billion).

In addition to the general list, the newly-released lists also include seven sub lists: a new energy rich list, an information technology rich list, a bio-technology rich list, a manufacturing rich list, an overseas rich list, a real estate rich list and a new rich list.

The following is the list of top 10 richest families in China.

Zhang Jindong & family  张近东家族

 

Zhang Jindong

Company: Suning Corp. and other companies 苏宁电器有限公司等

Shares: 31.6% in Suning Corp.

Wealth: 28.8 billion yuan (US$4.4 billion)

Founded in 2001, Suning Appliance Co., Ltd. is a 3C (consumer appliances, computer and communication products) chain retailer. It operates nearly 700 chain stores in more than 150 cities of 29 provinces and municipalities in China with 92,000 employees. It has a registered capital of 4.4 billion yuan. On July 21, 2004, it was listed on the Shenzhen Stock Exchange Market (002024), and on August 4, 2005, the reform project concerning stock equity distribution was passed at the shareholders' congress, making Suning a completely public company.