International Business: Bottled water, vaccines and electric vehicles propel China’s biggest earners – Gulf Digital News

International Business: Bottled water, vaccines and electric vehicles propel China’s biggest earners – Gulf Digital News

HONG KONG: Bottled water, vaccine development, short video platform TikTok and electric vehicle technology propelled the big earners on China's rich list this year, as embattled property moguls and others facing regulatory scrutiny slipped down the rankings.

Zhong Shanshan was No. 1 on the Hurun China Rich List 2021 published on Wednesday, with personal wealth of $60.6 billion thanks to a surge in the value of his listed companies, Nongfu Spring and Beijing Wantai Biological Pharmacy Enterprise.

ByteDance founder Zhang Yiming, battery maker CATL Chairman Zeng Yuqun, Tencent Holdings Pony Ma, and Jack Ma, founder of Alibaba Group and Ant Group, rounded out the top five.