Forbes Magazine has listed real estate and entertainment mogul Wang Jianlin as China's richest man in 2015 during a conference held in Beijing on Monday. This is the second time Wang has been adjudged to be the wealthiest in the country, the first time was in 2013.

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Ascending to the top spot means the relegation of Alibaba founder Jack Ma Yun to second place. Wang's net worth is currently placed at around $30 billion, an amount that is more than the GDP of many countries.

Wang Jianlin is the Chairman of the Dalian Wanda Group. The organization deals in real estate property and entertainment projects such as movie houses, according to Ecns.

Financial observers believe the increase of Wang's wealth is due to the improvement of the country's real estate conditions. His company has also adopted the "asset-light" strategy. Basically, it means that the company seeks investors first before embarking on new real estate projects. After a few years, the company start selling the real estate properties.

Centaline real estate analyst Liu Yuan said Wanda's current business strategy has helped improve Wang's wealth.

This year's Hurun Property list reported that Wanda's real estate property has reached almost $19 billion. Real estate developers in China are still reaping handsome profits despite the economic slowdown.

In the 2015 Forbes top ten list of China's richest men, only two real estate developers including Wang were on the list.

Most of those on the list comprised of people involved with the internet such as Jack Ma Yun and Tencent Chief Ma Huateng.

Information technology expert Fu Liang said that businesses related to the Internet will continue to provide profits although not as much as before.

Fu believes that Internet companies will have to devise new ways to entice consumers to their services and products.

Forbes Shanghai spokesperson Russel Flannery said that many of the rich in their top 100 list have increased their net wealth by as much as 20 percent despite the country's poor economic performance and the huge decline in the stock market.

Flannery explained that rise in net worth means that the business people and entreprenuers are exploring new business ventures at this time. Meanwhile, the Shanghai stock index is still 50 percent higher compared to 2014 - even with the recent massive decline in the value of many stocks.

TagsForbes top ten list, China's Richest Man, hurun report, Jack Ma Yun, asset light strategy