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China creating new billionaire — every week

A new billionaire was created almost every week in China in the first quarter of 2015, according to a report by UBS and PricewaterhouseCoopers.

Wealth creation is booming for the Chinese — supported by strong economic growth and robust capital markets — and it’s all happened in the last 15 years, said Francis Liu, a managing director at UBS Wealth Management.

They’re primarily pulling in the big bucks from real estate, technology, healthcare and other consumer industries, he said.

 

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