New | Dalian Wanda boss Wang Jianlin unseats Hong Kong's Li Ka-shing as richest Chinese

Mainland Chinese property and entertainment mogul Wang Jianlin has unseated Hong Kong's Li Ka-shing as the richest Chinese in the world, with a fortune of 260 billion yuan (HK$314 billion), according to the latest Hurun Report.

Wang, founder and chairman of Dalian Wanda Group, ascended to the No 1 spot largely due to the stock price jump of his listed businesses this year. The share price of Wanda Cinemas, the nation's largest cinema chain, has risen 500 per cent since it was listed in Shenzhen in January, while Dalian Wanda Commercial Properties has gained 11 per cent since going public in Hong Kong in December. Both companies are controlled by Wang, 61, and his family.

"As little as 10 years ago, the most successful Chinese were all outside mainland China. Today that has changed completely, with Wang Jianlin … representing the new era of mainland China entrepreneurs," said Rupert Hoogewerf, publisher of the Hurun Report.

Li, chairman of CK Hutchison Holdings and Cheung Kong Property Holdings, topped the Hurun Chinese rich list for more than 15 years but has fallen to second place, with an estimated fortune of 200 billion yuan.

Jack Ma Yun, chairman of China's e-commerce leader Alibaba Group, was third, with 165 billion yuan in wealth.