From Globe and Mail:
In his hunt for China’s richest tycoons, Rupert Hoogewerf has fought his way through layers of secrecy, threats of lawsuits and menacing visits from hired thugs.
But over the past year, his detective work has become a lot easier. As he tracks down people for his annual lists, most are beginning to admit the extent of their assets, which are much vaster than anyone could have imagined a few years ago.
China’s booming stock market has boosted the fortunes of its richest people, while increasing their transparency and openness. And shifting public attitudes have made it less embarrassing for them to acknowledge their wealth.
Over the past two years, the average wealth of China’s richest people has soared by 48 per cent a year, according to Mr. Hoogewerf’s research. [Full Text]
