Thursday, October 12, 2006

Entrepreneurship: First woman to top China's rich list

Paper-recycling entrepreneur Zhang Yin, has become the first woman to top a list of China's richest people. She amassed a fortune of US$3.4 billion after her company's shares were listed in Hong Kong and almost tripled in value.

Zhang, 49, whose Nine Dragons Paper Holdings Ltd. buys scrap paper from the U.S. for use in China, jumped from 36th to replace retail tycoon Huang Guangyu, according to Shanghai-based Hurun Report.

China News, reports that Zhang's wealth ranks her as the world's richest self-made woman, ahead of celebrities such as Oprah Winfrey and eBay Inc. Chief Executive Officer Meg Whitman.