A booming property market has pushed construction mogul Xu Jiayin to the top of China's rich list with assets estimated at $US43 billion ($A55 billion).
Xu, the boss of south Chinese corporation Evergrande, saw his wealth expand by $US30 billion in the past six months, according to a report in Chinese magazine Hurun on Thursday.
Shares in Evergrande appreciated in value almost six times over this year, helping Xu depose Wang Jianlin from last year's top spot.
Wang slipped down to fifth place after his property and entertainment group Wanda made major foreign investments.
Wang and his family's capital dropped by 28 per cent after Wanda had to endure cuts to fund the purchase of Hollywood studios Legendary for $US3.5 billion. Government regulations on foreign investment have also been a pain in Wanda's side.
The Hurun rankings, a Chinese equivalent to the US magazine Forbes list, places Pony Ma, head of online services company Tencent, in second place.
The 46-year-old's wealth was listed as $US37 billion, an increase of more than 50 per cent on last year.
Jack Ma, owner of internet giant Alibaba, came in third with assets of $US30 billion.
According to Hurun, the number of Chinese billionaires in dollars soared from just 53 to 647 in just a year. More than 2,000 Chinese people have amassed wealth of over $US300 million.
More than a quarter of China's richest people made their money in industry, though property and information technology are also promising sectors for accruing vast fortunes, the report said.
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