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China's 'wealthy' National People's Congress has whopping 83 billionaires

Source : ANI
Last Updated: Sat, Mar 09, 2013 07:40 hrs

China's single legislative, the National People's Congress (NPC), is almost the wealthiest in the world with 83 billionaires counted among its delegates, according to a report.

The China-based Hurun Global Rich List has identified 31 people having more than one billion dollars in personal assets, among the listed billionaire delegates to the Parliament, The Washington Post reports.

According to the list, the richest is Zong Qinghou, who is the founder of Chinese drinks maker Wahaha, with an estimated fortune of $13 billion.

The Hurun list identifies the remaining 52 billionaires as delegates to the Chinese People's Political Consultative Conference (CPPCC), an advisory body.

According to the list, the average fortune among the 83 billionaire delegates is 3.35 billion dollars, which contrasts heavily with the average annual wage of less than 7,000 dollars for Chinese urban workers.

The number of dollar billionaires identified by the list was up 17 percent this year.

However, analysts said that the Hurun list has seriously understated the real number of billionaire delegates, because of the difficulties involved in calculating the hidden wealth of many of China's top leaders and their families.

At nearly 3,000 delegates, the NPC is the biggest legislative assembly in the world, while the CPPCC boasts about 2,200 delegates, the paper added. (ANI)




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