China's rich become publicity shy
1 January 2003
The compilers of Forbes' fourth list of China's 100 richest businesspeople found that the government's campaign against tax fraud made potential members of the list less forthcoming. For example, last year's number two, Yang Bin was now off the list and under house arrest accused of tax fraud.
This year's richest person was Rong Zhijian, worth US$850m from infrastructure, property, marketing and distribution. Second was Xu Rongmao, worth US$780m from property development in Hong Kong, Shanghai, Beijing and Fujian and third was Sun Guangxin of Xinjiang from natural gas, building materials and property investments in Urumqi.