Chinese State-Capitalism

90% of the 1,000 richest people tracked by the Hurun Report are either officials or members of the Chinese Communist Party.

The most important and lucrative sectors of the economy have been reserved for state-owned-enterprises (SOEs)...SOEs are run like private corporations, seeking to maximise profits. They made an estimated 1 trillion yuan ($150.83 billion) in net profits in 2010...In the first half of last year, the four state-held commercial banks alone raked in an average of 1.4 billion yuan ($211.16 million) a day....
http://www.asianews.it/news-en/Communist-Party-controls-wealth-and-big-state-owned-enterprises-20626.html

Almost all of China’s richest people have made their money in state-dominated sectors, such as property and construction, resources, other heavy industries and telecommunications. This could be through preferential access to the best land (often seized illegally from citizens) for property developers, privileged access to below market rates of capital, or special access to raising capital or equity in listed SOEs. In almost all cases, those benefiting are CCP officials or members...

...the 150 centrally managed SOEs owned two-thirds of all fixed assets in the country, while their revenues amount to about half of the revenues generated by all Chinese firms each year...over two-thirds of board members, and three quarters of senior executives of SOEs are either CCP officials or members...

...While SOEs have increased their revenues by 20 to 30% each year, mean household income has increased by a paltry 2 to 3%...

...One of the keys to the Party's power base is that it retains control of material, career and professional opportunities. This may be good news for the growing ranks of the mega-rich but not the majority of the Chinese people who can't get a foothold on the social ladder...
http://www.forbes.com/2011/09/14/china-rich-lists-opinions-contributors-john-lee.html

At the March National People’s Congress 70 of the 2,987 members had a combined wealth of 493.1 billion yuan ($75.1 billion). By comparison, the wealthiest 70 people in the 535-member U.S. House and Senate, who represent a country with about 10 times China’s per-capita income, had a maximum combined wealth of $4.8 billion.
Rupert Hoogewerf, the director of research for the Hurun Report, said there are likely more dollar-billionaires in the NPC. For every one among the 189 the company identified in all of China, mainly through company filings, he estimates there’s another whose wealth remains hidden from the public. For every yuan billionaire, he estimates they’ve missed two. “There will be individuals on the NPC that just haven’t come to the surface,” Hoogewerf said. “There’s a lot of hidden wealth in China.”

Li Zhaoxing, a former foreign minister and spokes person for the National Party Congress said “I have found around me many good citizens who have gotten rich through their own hard labor and intelligence.” - Just as often claimed by Fox TV's Bill Reilly !!!

23.5 percent of the 1,000 richest Chinese individuals' fortunes comes from the property industry, up from last year's 20.1 percent. The rentiers

Liang Wengen, chairman of China's heavy machinery giant Sany Group, has been named the wealthiest person in the Chinese mainland. His personal fortune totaled 70 billion yuan.