Asian Rich List Swells on Billionaire Boom in China
The Chinese mainland added an average of two new billionaires to its super-rich list every week last year, according to new report, helping Asia replace the U.S. as the world's most fertile cradle for individual wealth.
The report released Thursday by the investment firm UBS AG and consultancy PricewaterhouseCoopers (PwC) said 101 of the 162 Asians whose personal wealth passed the $1 billion threshold for the first time in 2016 were Chinese citizens.
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