Most of the wealth still sits with property and industrial firms Netease founder William Ding Lei heads the Forbes list of the nation's richest people in a lineup that features more property and industrial firms than dotcoms. Mr Ding, with US$1.07 billion, is followed by Larry Yung Chi-kin of Citic Pacific Group in second place with $934 million. Xu Rongmao of real estate developer the Shimao Group is third with $800 million, and Lu Guanqiu of vehicle and finance firm the Wanxiang Group is fourth with $687 million. 'In the early days, the China richest list primarily tracked the land rush and the early entrepreneurs in China in the coastal provinces,' said Tim Ferguson, editor of Forbes Global. 'With this list, we are seeing the development of a new type of wealth, the Chinese high technology sector, including the internet,' he said. The total wealth of the top 100 on the list rose to US$22 billion from $19 billion last year and the minimum amount of money needed to be on the list jumped to $100 million from $85 million. Even though Forbes has trumpeted the list as the rise of the new economy entrepreneurs, the bulk of it consists of success stories in sectors such as natural gas, animal feed, batteries and building materials. Such old-line companies accounted for eight of the Forbes top 20 and property made up six. Only three technology companies fell into the top 20 - Mr Ding of Netease, Timothy Chan of online gaming company Shanda Networking and Charles Zhang of Sohu. There were only five new-economy companies in the top 20, including two that could be described as borderline because they manufacture telecommunications equipment. Hong Kong's contribution included Chen Lihua of Fu Wah International Group at No10 with US$361 million, Ming Jinxing of People's Food Holdings at 18 with $298 million and Liu Changle of Phoenix TV at 37 with $193 million. The Forbes list is facing new competition from a competing publication, Euromoney. The Forbes list, which has been issued twice before, is highly influential in marking China's richest entrepreneurs, but it is also considered something of a threat to those placed on it. Chau Ching-ngai, ranked 11th last year with US$320 million, was arrested by Shanghai authorities on charges of share manipulation and falsifying corporate information. Li Haicang, a steel magnate ranked 27th, was murdered in January.