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The scope of the list refers to artists from Mainland China, Hong Kong, Macao and Taiwan that are alive today. The list tracks their works sold at public auction anywhere in the world during 2008. The exchange rate used for US$1 was RMB 6.83.
Our team of researchers has - for the tenth year running - travelled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years鈥� databases. The cut-off date for valuation of listed companies was 1 September 2008. The exchange rate used for US$ was RMB 6.8. For non-listed companies, we valued by comparing them with their listed equivalents using prevailing industry Price/Earning ratios.
Valuing the wealth of China's richest is as much an art as it is a science. Sure, we have missed some people, but we believe the Hurun Rich List is the most serious attempt to identify China鈥檚 top entrepreneurs and to measure their holdings.