Chinese cities on world's richest list

China has shone in the latest list of the world's richest cities, thanks to the rapidly accumulated personal wealth in the country.

According to the World's Wealthiest Cities list released by the South African market consultancy New World Wealth earlier this month, a total of three Chinese cities entered the top 10 - Beijing, Shanghai and Hong Kong.

The market research firm gauges the total amount of private wealth based on property, cash, equities and business interests. Government funds are excluded from the figures.