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		</div><p>China has passed the United States in the number of billionaires, driven by the rise of fortunes in technology and manufacturing, according to a new survey.</p>
<p>Despite a cooling economy, the number of Chinese billionaires rose by 242 this year to 596, according to the Hurun Report, which follows China’s wealthy.</p>
<p>It said that surpassed the 537 the company found in the United States.</p>
<p>The report reflected the success of online retailing, entertainment and other service businesses, while traditional industries such as steel and natural resources have declined.<br />
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<p>Number one on this year’s list is Wang Jianlin, chairman of Wanda Group, which operates hotels, shopping centres and cinemas, at $34.4 bn, up 52% from last year.</p>
<p>Second is Jack Ma, of e-commerce giant Alibaba Group, at $22.7 bn, followed by Zeng Qinghou, of the Wahaha soft drinks and mineral water empire, with $21.2 bn.</p>
<p>China’s economy grew by 7% in the quarter ending in July over a year earlier, down from last year’s 7.4% annual expansion and the lowest level since the 2008 global crisis.</p>
<p>Communist leaders are trying to steer the economy to more self-sustaining growth driven by domestic consumption and service businesses to reduce reliance on trade, investment and heavy industry.</p>
<p>“Despite the slowdown in the economy, China’s richest have defied gravity, recording their best year ever, and creating more wealth than any country has ever done before in a year,” said Rupert Hoogwerf, chairman and chief researcher of the Hurun Report.</p>
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