Local Family Office Growth Likely as China Billionaires Hit Record 1,434

China billionaires 2025 numbers hit a record high, with 340 new names joining Hurun’s China Rich List, lifting the total to 1,434 individuals worth at least RMB5bn (USD702m). Combined wealth surged 42% to RMB30tr as stock-market gains in “new economy” sectors boosted valuations. Bottled-water magnate Zhong Shanshan reclaimed the top spot with RMB530bn, up 56%, while ByteDance founder Zhang Yiming ranked second at RMB470bn. Hong Kong’s richest, Li Ka-shing and Victor Li, saw wealth rise 18% to RMB235bn, placing ninth overall. Forty-one people now exceed RMB100bn, and 1,021 are dollar billionaires—up 36%. Hurun based its assessment on prices as of 1 September, when Shenzhen, Shanghai, and Hong Kong indices were up 54%, 36%, and 42% respectively.