The southern Chinese tech hub of Shenzhen recently surpassed the US financial capital of New York in terms of the number of its resident billionaires.
The latest Hurun Global Rich List indicates that Shenzhen is currently home to a total of 113 billionaires, putting it ahead of New York, which is host to 110.
The Hurun list further indicates that China is now home to the world’s three top cities in terms of the largest numbers of billionaires.
Beijing is the city with the world’s largest number of billionaires at 144, while Shanghai comes in second, at 121, and Shenzhen takes the third spot.
New York comes in fourth place, while London takes fifth with a total of 101 billionaires.