Many Chinese people believe wealth in China flows directly from political connections. Judging by the fortunes of the richest members of the country’s ersatz parliament, they appear to be right.
According to Financial Times calculations, the richest members of the upper and lower houses of China’s parliament saw their average wealth increase more than four times over the past eight years, compared with a rise of under three times for the 1,000 wealthiest people identified in the country.
The annual meeting of the National People’s Congress, the lawmaking body that opens today and lasts for just over a week, includes 86 renminbi billionaires on the Hurun China Rich List, the annual ranking of the country’s wealthy.
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