Why Hong Kong’s latest No 1 ranking was greeted with silence

Transportation is just one of the sectors in Hong Kong dominated by a very small number of firms. Photo: Nora Tam

You know how it is when Hong Kong tops a world comparison table: first comes a flurry of self-congratulatory articles, and then there will be a smug government statement to the effect that this confirms whatever it is supposed to confirm.

Wednesday, 2 April, 2014, 8:05am 24 comments

How spreading the wealth around helps communities and legacies

Chinese guests read copies of the magazine with the list of China's most popular people. Photo: AFP

Looking at the latest Forbes rich lists for Asia it’s interesting to note that while multinationals are actively seeking young consumers to buy their products, a vast number of Asia’s richest are distinctly grey haired. Take Indonesia - half of the country’s 235 million population is under 29 and their spending power is climbing fast, Forbes says.

10 Apr 2013 - 1:21pm

India's mega rich lag far behind West in philanthropy

Azim Premji, chairman of Indian software giant Wipro. Photo: AFP

They may build skyscraper mansions, travel by private jet and throw sumptuous wedding parties, but it seems India's super-rich are much slower at opening their wallets for charity. India now has 55 dollar-billionaires, the fifth-biggest number in the world, according to a Forbes ranking this month.

21 Mar 2013 - 2:26am

Stay out of politics, billionaire Zong Qinghou warns Chinese entrepreneurs

Zong Qinghou, named by Forbes as China's richest man. Photo: Simon Song

A successful Chinese entrepreneur should understand but not participate in politics, said beverage tycoon Zong Qinghou, billed as China’s richest man.

14 Mar 2013 - 11:51am 2 comments

83 Chinese billionaires members of NPC and CPPCC: Hurun

Zong Qinghou. Photo: Bloomberg

Eighty-three members of the National People's Congress or the Chinese People's Political Consultative Conference are US dollar billionaires, a private research consultancy says, making the annual NPC and CPPCC sessions under way in Beijing the biggest gathering of billionaires anywhere in the world.

8 Mar 2013 - 11:50pm 4 comments

China has second-most billionaires on Forbes' global rich list

Zong Qinghou, Hangzhou Wahaha Group chief and China's richest man, now ranks 67th on the 2013 Forbes Global Rich List. Photo: SCMP

Twenty-six Chinese nationals joined Forbes magazine’s recently published Global Rich List this year, bringing the country's total number of billionaires on the list to 122.

6 Mar 2013 - 6:53pm 1 comment

Chinese millionaires pay for riches in lost sleep and health, says happiness report

A woman shops in a Louis Vuitton store in Shanghai. Photo: Reuters

For all their riches, the mainland's millionaires have paid a high price in health, family life and even sleep. According to The Millionaires Happiness Report, compiled by the Hurun Research Institute, the richer they are the less they sleep.

16 Jan 2013 - 10:47am 4 comments

Billionaire’s daughter: I'm rich and boyfriendless

Zong Fuli and Zong Qingho. Photo: screeshot from Weibo.

What is like to be the daughter of China’s wealthiest man? 'Rich and boyfriendless', according to the only daughter and heiress of beverage tycoon and billionaire Zong Qinghou.

10 Jan 2013 - 6:42pm 5 comments

World's richest got a lot richer in 2012

Mexican billionaire Carlos Slim. Photo: Bloomberg

The richest people on the planet got even richer in 2012, adding US$241 billion to their collective net worth.

According to the Bloomberg Billionaires Index, a daily ranking of the world's 100 wealthiest individuals, the aggregate net worth of the world's top moguls stood at US$1.9 trillion at the market close on December 31.

3 Jan 2013 - 10:28am

China Digest, December 17, 2012

A Peking University professor apologised over the weekend for remarks he made in public that plasticiser and melamine, two chemicals at the centre of food safety scandals on the mainland, were harmless to humans, Xinhua reports.

17 Dec 2012 - 5:25am