Liang Wengen, the chairman of Sany Heavy Industry, has again been crowned was crowned China's richest man for the second time in a week as a mainland construction boom helped raise his personal net worth to US$9.3 billion.
The number of US dollar mainland billionaires increased to 146 from 128 last year despite a weak stock market, according to the annual Forbes China rich list released yesterday.
Liang, 55, moved up two notches from third richest mainlander last year as his wealth grew from US$5.9 billion to US$9.3 billion. He only just edged out Wahaha Group boss Zong Qinghou by a few million dollars, with Robin Li Yanhong, chairman of internet search engine Baidu third on US$9.2 billion.
On Wednesday, the Hurun Rich List 2011 also gave Liang the top spot with a fortune valued at 70 billion yuan (HK$85.3 billion).
'The rise of Sany reflected China's soaring spending on infrastructure construction,' Forbes said in a statement. 'The increasing investment in infrastructure brought huge benefits to heavy machinery makers.'
Sany also plans to list on the Hong Kong stock exchange, a move that could further boost Liang's fortune.
The mainland's infrastructure package in the past two years ushered in a construction boom in the world's second-largest economy, bringing a windfall to Liang and his businesses.