Letters and Blogs

The richest that doesn't set foot in real estate

Wang Chuanfu, president of BYD, a car manufacturer and the largest rechargeable battery producer in China, becomes the mainland's richest man this year from last year's 103rd position, according to the Hurun Report. With 35 billion yuan ($5.14 billion) of wealth, Wang dramatically headed the Hurun List, which sends new signals about transitions of China's economic growth pattern.

Wang not only renewed the list of the mainland's richest people, but also brought a breath of fresh air to the Chinese economy, where most of the wealth had gone into real estate developers' pocket.