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SHANGHAI — The number of Chinese individuals worth more than 5 billion yuan ($690 million) has fallen 15% from its peak in 2021, reflecting the property crisis-plagued economic slowdown and competitive e-commerce landscape.
That is according to Shanghai-based Hurun Research Institute, which released its latest list of China’s wealthiest people on Tuesday. The total wealth of the 1,241 individuals on the list dropped by 4% to $3.2 trillion compared to last year, with some 898 individuals seeing their worth decline or remain unchanged.
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