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One in every two newly minted dollar-denominated billionaires last year stemmed from China, according to the latest Hurun Global Rich List. The country had 1,058 billionaires last year compared with 696 in the US.

Of the 610 new billionaire tycoons globally, 318 were in China, compared with 95 in the United States, based on January 15 valuations. “China has added more new faces than the rest of the world combined, and pulled away big time from the USA in the past year,” said the report.

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