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Updated: 3 Mar 2021, 12:55
OVER 200 billionaires were created in China last year despite the rest of the world being crippled by the Covid pandemic.
A booming stock market and flood of new company listings offset the damage caused in China by the crisis, a new global tally shows. Read our coronavirus live blog for the latest news & updates.
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Coronavirus spread out from China and across the world
The size of China’s exclusive billionaire’s club has almost doubled in the past five years as the world’s No. 2 economy continued to outpace most others.
The Hurun Global Rich List showed that 259 Chinese broke into the billion-dollar club in 2020 - more than the rest of the world combined.
More than 200 billionaires added in China last year
AFP, BEIJING
More than 200 billionaires were created in China last year as booming stock markets and a flood of new listings offset the effects of the COVID-19 pandemic, a global tally released yesterday showed.
The size of China’s exclusive billionaire’s club has almost doubled in the past five years as the world’s No. 2 economy continued to outpace most others, while it was one of the few to expand last year.
The Hurun Global Rich List showed 259 people breaking into the billion-dollar bracket more than the rest of the world combined taking China’s total to 1,058, the first country to break the 1,000 mark.
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The Council for the Development of Cambodia (CDC) approved 16 capital investment projects last month totalling more than $700 million that are expected to create 11,414 local jobs.
Heng Chivoan
CDC gives nod to 16 projects worth $700M last month
Mon, 1 March 2021
The Council for the Development of Cambodia (CDC) approved 16 capital investment projects last month totalling more than $700 million that are expected to create 11,414 local jobs.
The projects are mainly factories in the manufacturing industries of garments, textiles, bags, tyres, furniture, spare parts, grills, stationery and electrical appliances, but also include an international polyclinic, according to the CDC.
The investment capital behind the projects sums up to $702.5 million, but could range between $701.7 and $703.3 million as the CDC rounds each of its figures to two digits – creating a discrepancy in the final number.
(Feb 26): India’s Mukesh Ambani is back to being the wealthiest person in Asia.
Despite a brutal week for markets, his Reliance Industries Ltd was relatively unscathed as it said it would spin off its oil-to-chemicals business into an independent unit. With a net worth of about US$80 billion, Ambani is again richer than Zhong Shanshan, whose bottled-water company tanked a record 20% this week. The Chinese tycoon is worth US$76.6 billion, down more than US$22 billion from a peak just last week, according to the Bloomberg Billionaires Index.
Ambani spent most of the past two years leading the ranking of Asia’s richest people, taking over from Alibaba Group Holding Ltd’s Jack Ma. Then the listing of two companies put Zhong on the map: He grabbed the title from Ambani at the end of December and by early 2021 was the sixth-wealthiest person on Earth, surpassing Warren Buffett. Zhong’s Nongfu Spring Co more than tripled from its initial public offering to a peak in January as inv