Big billionaires are on a roll in China, says Forbes

BEIJING - There are now more billionaires in China than any other country besides the United States, according to Forbes magazine.

According to the latest list of rich people put out by the magazine, the US continues to top the list with 403 billionaires. But what has really been surprising has been the strong ascendancy of China. The country increased its number of billionaires on the list to 64 in 2009 from 28 in 2008.

The richest man in China is Zong Qinghou, who runs the multi-billion-dollar soft drink firm Wahaha Group. Zong is ranked 103rd on the list with an estimated wealth of around $7 billion. Not only has he nearly tripled his wealth from $1.9 billion in 2008, he has also improved his standing from 376th earlier.