Most of China's New Billionaires for 2018 Are from the Technology Sector

World | November 13, 2019, Wednesday // 16:56| Views: | Comments: 0
Bulgaria: Most of China's New Billionaires for 2018 Are from the Technology Sector

Technology entrepreneurs in China are taking advantage of the digital economy boom in the country, amassing a huge fortune in 2018, according to a report.

21% of the 56 new Chinese billionaires for 2018 came from the technology sector, while only 7% came from the real estate industry, an industry that traditionally creates the richest Chinese entrepreneurs.

"As the digital economy's impact on traditional businesses grow, technology entrepreneurs are replacing traditional giants such as manufacturing and the real estate sector," said a spokesman for consulting firm PwC China.

The report includes entrepreneurs whose worth is over $ 1 billion.

China manages to maintain its second position in the world by the number of billionaires. In 2018, 325 billionaires were registered in the country with a total net worth of $ 982.4 billion.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

World » Be a reporter: Write and send your article
Tags: China, billionaires, technology sector
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria