Billionaires
Xi’s Stimulus Blitz Adds $130 Billion to Coffers of China’s Rich
- Beijing delivers stimulus in monetary policy, home purchases
- Chinese tycoons see record week-long wealth surge of 19%
Chinese stocks surged more than 25% since last Monday after Beijing unveiled a series of measures to revive moribund growth.
Photographer: Kevin Lee/Bloomberg
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China’s largest stimulus package in years has helped the country’s richest get a whole lot richer.
The collective fortunes of the 54 Chinese people on the Bloomberg Billionaires Index jumped about 19% in the week ended Sept. 30, the largest on record for a week-long wealth gain of the country’s tycoons since the ranking started tracking the world’s richest 500 people in 2016. China’s moguls have seen almost $130 billion of combined wealth added over the period, according to the index.