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Woman tops list of China's richest

(Reuters)
Updated: 2006-10-11 15:42

Her personal wealth leapt from US$375 million last year, when she was logged as number 36 in the survey, surpassing appliances king Huang's US$2.5 billion, according to the report.


Huang Guangyu, GOME Chairman
Huang, chairman of GOME -- the country's top retailer of household electronics -- had topped the list in 2005 for the second consecutive year, with a fortune of US$1.7 billion.

The man who started his career with $500 and a Beijing roadside stall hawking radios and gadgets built GOME into a multi-billion dollar empire spanning nearly 100 cities across the country.

The number of Chinese billionaires on the Hurun list increased to 13, from seven last year and just three in 2004.

The rise in the number of China's super-rich comes amid a widening gulf between rich and poor that analysts say threatens social stability even as the economy booms.

Chinese President Hu Jintao in July called for stronger efforts to tackle the wealth gap, saying salaries should be market-oriented but that the country must focus on fairness.

The 500 richest Chinese in the Hurun report are now worth an average of US$276 million, a 48 percent rise over the previous year, controlling a total US$138 billion in assets.


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