As economic downturn bites, the rich become a little poorer
By Lu Haoting | China Daily | Updated: 2008-10-31 07:44
The latest list of China's 400 richest people compiled by Forbes magazine mirrors a world in financial turmoil.
The fortunes of the nation's richest have plummeted along with a 60 percent plunge in mainland stocks and a 50 percent drop in Hong Kong shares this year.
Their combined net worth dropped nearly 40 percent to $173 billion from $288 billion in 2007, and the top 40 richest lost $68 billion, or 57 percent, according to a report released by Forbes yesterday.
Photo