Record number of Chinese among the world's richest as billionaire numbers rise

Ethnic Chinese account for a record one-fifth of all billionaires in the world this year, rising from 17.6 per cent in 2014, according to the China Rich List 2015 compiled by the US business magazine Forbes.

The 370 billionaires identified each had at least US$1 billion in net assets and were led in the wealth stakes by 86-year-old Hong Kong magnate Li Ka-shing, with an estimated US$33.3 billion in assets, followed by fellow Hong Kong property tycoon Lee Shau-kee and Dalian Wanda chairman Wang Jianlin from the mainland.

In all, 213, or about 57 per cent, of the billionaires came from the mainland, 9 per cent came from Hong Kong and 9 per cent from Taiwan. The rest came from other countries.

Collectively, their wealth has grown by more than 20 per cent annually over the last three years, with mainland businesspeople accounting for a growing share of the fortunes.

This year's top 10 richest included five people from the mainland, up from one two years ago. Four Hong Kong tycoons were among the 10 richest, down from five in 2013.

"As the mainland's economy grows, especially with the stock market recovering, more business leaders on the mainland will be added to the rich list," Bank of Communications chief economist Lian Ping said.

Lian said that down the track the super-rich would also come from a broader range of business backgrounds, particularly from innovative sectors such as the internet.