China billionaires overtake US: survey

The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said Thursday, despite slowing growth in the world’s second-largest economy. Communist-ruled China now has 596 billionaires, up a "staggering" 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans. "Despite the slowdown in the economy, China’s richest have defied gravity, recording their best year ever," Hurun Repo