Fewer billionaires among China’s lawmakers as 2018 stock market rout crimps their ranks and fortunes

//Fewer billionaires among China’s lawmakers as 2018 stock market rout crimps their ranks and fortunes

Fewer billionaires among China’s lawmakers as 2018 stock market rout crimps their ranks and fortunes

The combined fortunes of US dollar billionaires in China’s legislature, who outnumber their peers in the US Congress, shrank by 14 per cent last year, slashed by a rout in the world’s worst-performing stock market.Their combined wealth fell to 3.4 trillion yuan (US$504 billion) from 3.93 trillion yuan in 2018, according to data compiled by Hurun Report. The number of dollar-denominated billionaires fell to 93, out of 5,000 delegates to the legislative and political advisory branches of the…

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By | 2019-03-05T13:18:51+00:00 March 5th, 2019|Headlines|Comments Off on Fewer billionaires among China’s lawmakers as 2018 stock market rout crimps their ranks and fortunes