China has 271 billionaires, including Sany Group construction giant's Liang Wengen, the richest with $11 billion, the 2011 Hurun Rich List reported.
China's most affluent group expanded rapidly again this year, spurred by the country's construction boom and growing retail market, the Hurun Research Institute, which prepared the list, said Wednesday, China Daily reported.
A Chinese woman walks past a high-end housing estate in Beijing on August 12, 2011. In order to meet the demands of the capital's growing rich, developers are rushing to build luxury properties throughout the city. UPI/Stephen Shaver