Heavy equipment tycoon tops China rich list (AP)

SHANGHAI ? A maker of pile drivers and other heavy machinery tops a list of China's billionaires.

The Hurun Rich List 2010, China's equivalent of the Forbes list, said Liang Wengen, chairman of Sany Heavy Industry Co., leads the country's fast-growing ranks of super-wealthy. A surge in Sany's share price doubled his fortune last year, to $11 billion.

Consumer goods, Internet and property tycoons dominated the top of the list.

Rupert Hoogewerf, who compiles the list, said Zeng Qinghong, head of the Wahaha beverage empire, dropped to second place with $10.7 billion, while Red Bull energy drinks mogul Yan Bin was fourth.

Robin Li Yanhong with search engine company Baidu Inc. took third spot, with $8.8 billion.

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20110907/ap_on_bi_ge/as_china_rich_list

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