New York Times Wen Exposé Makes Waves

David Barboza’s investigation of the wealth built by Wen Jiabao’s extended family has dominated China news since its publication by The New York Times early on Friday. While the basic fact that wealth and power go...

Lei Jun: “China’s Steve Jobs”

Lei Jun (雷军), founder and major shareholder of Xiaomi Tech (小米科技) [zh], has just joined the ranks of Chinese billionaires. Now worth an estimated $4 billion, the company was founded in 2010, and released the Xiaomi Phone –...

China's Iceland Moment

Chinese tycoon Huang Nubo plans to buy a large tract of north-eastern Iceland, enhancing the wilderness with a hotel, golf course, horse farm and race track (see a video report at The Financial Times). The purchase set The New...

China's Billionaires Double in Number

The rich are getting richer in China, according to the most recent Hurun Rich List. From the Telegraph: China now has the second most billionaires in the world, after the United States with more than 400. “The numbers are...

Philanthropy and Loathing Among China’s Wealthy

The Seattle Times describes the efforts of Yang Lan, one of several “Chinese Oprahs”, to build a US-style culture of philanthropy among China’s rich: China is second only to the U.S. in the number of...

Two Former Chinese Vice Mayors Executed for Bribery

Xinhua reports the executions for corruption of the former vice mayors of Hangzhou and Suzhou: Xu Maiyong, a former vice mayor of the city of Hangzhou in Zhejiang Province, was convicted of bribery, embezzlement and abuse of...

See No Fortune, Hear No Fortune

Evan Osnos’ Letter from China at The New Yorker accuses authorities of “papering over” enormous and growing inequality, rather than taking serious steps to address it. A couple of months ago, the Beijing...

Chinese Billionaire Joins Japan Relief Effort

While Beijing extends a helping hand to Japan, the Wall Street Journal’s China Real Time Report describes the private relief efforts of one of China’s richest men: Chen Guangbiao, a 42-year-old billionaire and chief executive of...

China and Russia Drive Growth In World’s Billionaires

According to Forbes’ annual ranking of the world’s wealthiest people, the booming economies of Russia, China, India and Brazil have resulted in the continual increase in the number of billionaires within each...



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