2008 China Steel Rich List

The 2008 Hurun Steel Rich List looks at the wealth created by the steel sector only. For example, Zhang Zhixiang is listed on the 2008 Hurun Rich List with a wealth of US$2.9 billion yet on the 2008 Hurun Steel Rich List he is valued at US$1.97 billion. The other US$1 billion relates to other industry sectors. Our team of researchers has - for the tenth year running - travelled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years' databases. The cut-off date for valuation of listed companies was 1 September 2008. The exchange rate used for US$ was RMB 6.8. For non-listed companies, we valued by comparing them with their listed equivalents using prevailing industry Price/Earning ratios. This list relates to Mainland Chinese only, defined as someone born and brought up in Mainland China, no matter what passport they might hold today.