There are 129 billionaires in China who value more than 10 billion yuan ($1.57 billion) on the Hurun Rich List 2011, released by the Hurun Research Institute today. But Rupert Hoogewerf, the institute's chairman and chief researcher, said during the release that the actual number might be double since many billionaires have not listed their enterprises and thus their assets are hard to calculate.

Hoogewerf also said he expects to see half of the names on the top 1000 rich list being overtaken by new names in five years' time as China has a very dynamic economy.