China's changing billionaires: PDD up, Country Garden down

Overseas expansion powers some of the biggest gains on Hurun list

20231206N Colin Huang

Colin Huang's PDD Holdings has brought its hit shopping app Temu to international markets. (Yin Liqin/CNS via Reuters)

KOHEI FUJIMURA, Nikkei staff writer

DALIAN, China -- It wasn't that long ago that China's real estate sector produced many of the country's top billionaires. But their fortunes have fallen with the country's property market, while entrepreneurs taking their brands global have soared.

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