2021 China’s New Fortune 500 list announced in Macau

China’s New Fortune 500 list for 2021 will be announced for the first time in the Macau SAR on May 13.

Compiled by Chinese domestic media since 2003 as a response to the well-known Fortune 500 ranking, the list provides an insight into the latest trends in China’s economic development and its most wealthy entrepreneurs and businessman.

The list will evaluate the wealth of candidates based on their major companies, with listed companies are valued by their stock prices and holdings, and non-listed companies valued by their latest financing.

Alibaba Group founder, Jack Ma, topped the 2020 ranking, with his RMB302.14 billion net worth surpassing Tencent’s founder and CEO, Ma Huateng, who had topped the list the year prior.

The 2020 New Fortune 500 list also revealed that there were already 315 Chinese billionaires with a net worth of at least RMB10 billion, a non-existing figure 15 years before.

China’s New Fortune 500 2021 list will be announced in an event held on May 13 at MGM Cotai.

New Fortune also launches several different wealth series professional rankings, including Best Analyst, Gold Board Secretary, Best Listed Company, Best Investment Bank, Best Investment Advisor or Best Private Equity.