Nothing illustrates China's progress towards capitalism as tangibly as the rise of its rich. While the Beijing leadership talks of reducing inequality, economic reality is moving in the opposite direction.
Average per capita incomes, now around $1,300 a year, are growing by 8-9 per cent annually. The fortunes of the country's top 100 citizens, however, jumped 48 per cent to an average of $440m in the year to August, according to researcher Rupert Hoogewerf, who compiles an annual China rich list. The number of dollar billionaires is up from three to seven.
