Millionaires may be right on your side in Zhejiang

Jack Ma, founder and executive chairman of Alibaba Group Holding Ltd. [Photo/China Daily]

One in every 380 persons in Zhejiang province is a millionaire, according to Hurun Report released on Saturday.

Based on the report, 410,000 people with 6 million yuan ($966,000) net worth are in Zhejiang province, accounting for 13 percent nationwide; 146,000 have 10 million yuan net worth, accounting for 12 percent nationwide; 8,790 have 100 million yuan, accounting for 11 percent nationwide; and more than 2,000 have 500 million yuan net worth, accounting for 11.8 percent nationwide.

Although Zhejiang's population accounts for just four percent of national population, 15 percent entrepreneurs ranked in the Hurun China rich list are from the province, said Hurun, the chairman of the board and principle researcher of Hurun report.

Jack Ma, the founder of Alibaba Group Holding, is the richest man in Zhejiang, followed by Zong Qinghou, chairman of Hangzhou Wahaha Group.

Lu Guanqiu, the founder of Wanxiang Group, ranks third on the list of Zhejiang wealthy businessman as well as Ding Lei, CEO of NetEase, Guo Guangchang, Chairman of the board of Fosun International Limited, both from Zhejiang, are also on the "Hurun China Rich List".

According to Hurun Report, Zhejiang ranks No 4 on the list based on the number of high net-worth individuals, although it does not reveal the top three regions.

Gao Tianyang contributed to this story.