Chinese billionaires' wealth grows

The personal fortunes of 300 Chinese topped 10 billion yuan ($1.6 billion) as of the end of 2013, according to an annual ranking of the wealthiest individuals in China released on Thursday by Hurun Report, a Shanghai-based magazine.

In 2013, 20 more Chinese had fortunes topping 10 billion yuan than in 2012. It also counted 8,300 Chinese with wealth reaching 1 billion yuan, 200 more than a year earlier.

The Hurun Report attributed the increases to the country's overall GDP growth and appreciation in the value of real estate.