Shenzhen residents: Love thy neighbor. They may be very, very rich.
Financial magazine Xincaifu has compiled a list of the richest people in China, and wouldn’t you know it—Shenzhen is home to 50 billionaires.
Well, they might not live in your neighborhood, but borrowing a little Grey Poupon is easier in Guangdong Province than anywere else in the country. Guangdong is the Chinese province with the most billionaire residents, followed by Beijing, Zhejiang, Shanghai and Jiangsu.
As if to signal the bursting of the real estate bubble, the list mentions the current ten richest people in China as having made their fortunes outside the real estate industry. The fields by which this year’s top moneymakers have rung in their gold include new energy and the internet.
We wonder what could it be that attracts them the most: the clean air, former Hong Kongers with a desire to drive on the right side of the road, uh, the local sports team?
We guess those guys that handle Shenzhen’s position as a technological and manufacturing leader have to live somewhere.