Despite the slow economy this year, China is rocking the money world as it surpassed the United States for having the longest list of billionaires, according to a ranking released by The Hurun Research Institute on Thursday.

The number of rich people in China has increased by more than 240 new billionaires to 596 - overtaking USA's 537 billionaires. The list could actally be as high as 715 billionaires if the rich people in if Hong Kong, Taiwan and Macao's are also included.

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The Hurun released a list of names of China's billionaires. Redeeming the number spot from the CEO of Alibaba Group Jack Ma, is the currently dominating 61-year-old chairman of Wanda Group Wang Jianlin. The latter's wealth increased by about 52 percent from the past year, bringing his net worth to $34.4 billion. Jianlin managed to expand his assets by spiking 20% in sports marketing, acquiring the Worth Triathlon Corporation (where the Ironman brand belongs) and buying a Swiss-based sports marketing company. Meanwhile, Jack Ma's fortune after an IPO last year dropped by 3%, bringing his approximated net worth to US$22.7 billion.  

Trailing behind in third, fourth and fifth places, respectively, are soft drink and mineral water Wahaha company's CEO Zeng Qinghou with a net worth of US$21.1 billion, WeChat creator Pony Ma Huateng at US$18.8 billion and head of Xiaomi Technology Lei Jun with US$14.4 billion.

Among the new faces on the top 10 are real estate, finance and investment tycoon Lu Zhiqiang at No. 8 (US$ 13 billion), Suning's CEO Zhang Jindong at the ninth spot (US$12.7 billion) and completing the magic 10 is Wanxiang's owner Lu Guanqui and his family with US$10.2 billion.  

"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, The Hurun Report's chairman and chief researcher.

TagsChina versus USA, China more billionaires, China's richest people, World's richest people, China billionaires