Pursuits
Two New China Billionaires Emerge With Shenzhen Stock Rally
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A rally in shares on China’s Shenzhen Stock Exchange has made Xiao Fen and Ruan Hongxian billionaires as their companies’ stocks climbed.
Xiao, chairman of Shenzhen Fenda Technology Co., a consumer electronics company that invested in a maker of Google Glass-like products, has a net worth exceeding $1 billion as the stock surged to a record. Ruan, who owns China’s third-biggest publicly traded drug-store chain, also has a fortune of more than $1 billion, according to the Bloomberg Billionaires Index.