China billionaires overtake US

The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said Thursday, despite slowing growth in the world?s second-largest economy.

Communist-ruled China now has 596 billionaires, up a "staggering" 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans.

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