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China’s new billionaires

The new Forbes billionaire ranking can be quickly summarized from a Chinese perspective: It was a super year for China’s super-rich. The People’s Republic has gained 202 billionaires, bringing their number up by a good third to 626. Beijing alone is now home to 100 billionaires, making the Chinese capital the city with the most billionaires, ahead of New York. Jack Ma is no longer the richest man in China. He has been replaced by mineral water king Zhong Shanshan. Tencent founder Pony Ma and Colin Zheng Huang, founder of online retailer Pinduoduo have also passed Ma.

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