This year, the number of billionaires in mainland China has increased to 470, with 98% being self-made

Domestic media cited a UBS report stating that by 2025, 70 new billionaires with assets exceeding $1 billion will emerge in mainland China, bringing the total number to 470, second only to the United States, with a total wealth scale of $1.8 trillion.

In the year, the wealth of 196 self-made billionaires globally increased by $386.5 billion, including Zhang Hongchao and Zhang Hongfu, founders of Mixue Group (02097.HK). Lyu Zijie, head of UBS Wealth Management in China, stated that as much as 98% of billionaires in mainland China are self-made entrepreneurs