China's wealthiest also have political power

Updated: 2015-03-03 12:08

By Zheng Xin in Beijing(China Daily USA)

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China's wealthiest also have political power

Half of China's top 10 wealthiest people are deputies to the country's top legislature and are members of China's top political advisory body.

Five of the 10 wealthiest people in China are due to take part in the upcoming National People's Congress and the National Committee of the Chinese People's Political Consultative Conference, according to the the Hurun Report, published by the Shanghai-based magazine that follows the lives of the wealthy.

Among the top 10 of Huran's 2014 China rich list, No. 3 Zong Qinghou, chairman of Chinese beverage giant Hangzhou Wahaha Group; No. 10 Lei Jun, head of mobile-phone upstart Xiaomi Inc; and No. 50 Ma Huateng, chief executive officer of Tencent Holdings Ltd, all are deputies to the country's top legislature.

Most of the headquarters of the wealthy delegates are in Beijing, North China's Shandong province, Central China's Henan province and Jiangsu province in the East China.

Solar energy tycoon Li Hejun, board chairman and founder of Hanergy Holding Group Ltd, who was listed in joint third place in 2014 yet described by Hurun Report as China's richest man, and No. 6 Li Yanhong, founder and CEO of Baidu Inc, are both CPPCC National Committee members this year.

Most of the wealthy national political advisers' businesses are headquartered in the Hong Kong Special Administrative Region, Beijing and Guangdong province.

Of the wealthy national legislators that are included in the top 10 of Huran's 2014 China rich list, only six are women, including property tycoon Wu Yajun; Tao Huabi, creator of the famous Laoganma chili sauce; and Chen Lifen, chairman of Shanghai-listed Jiangsu Sunshine Group, the report stated.

Most of the wealthy NPC deputies are involved in manufacturing, real estate, medicine, pharmaceuticals and technologies, the report said.

According to the New Culture newspaper based in China's Jilin province, among China's 100 richest people, 15 are NPC delegates and 21 are CPPCC members.

The total fortune of the 35 mega rich is more than 1.2 trillion yuan.