Rich List: China dynasties built on bandwidth

China's has generated fortunes at a rate that is the envy of the developed and emerging worlds, much of it produced by far-sighted digital entrepreneurs.
Wang Jianling, Asia's richest man
Wang Jianling, Asia's richest man

The People’s Bank of China PBoC loosened monetary policy last year as the country experienced the slowest economic growth since the mid-1990s, amid a property price slump and weaker industrial output. The credit expansion helped fuel soaring stock market prices and also alleviate pressure on highly indebted property developers.

Guangzhou-based Evergrande Real Estate, China’s second-biggest property developer, was a major beneficiary, not least because it had racked up dollar-denominated debt during the previous two years and attracted concerned scrutiny from investors.

Listed in Hong Kong, Evergrande focuses on residential and commercial properties in tier-3 cities on the mainland, where inventories had risen as sales declined. On 29...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222