In Red China, rich don't pay tax

Beijing: The richest people in China paid less tax in 2006 than the year before despite their growing wealth, the state media reported about the annual list of the

country's wealthiest.

The personal assets of the 120 entrepreneurs on the list were worth on average 2.062 billion yuan, an increase of 202 million yuan, or 10 per cent, on last year.

However, they only paid taxes of 270 million yuan on average, compared with 283 million yuan in 2005, the Guangzhou-based Nanfang Daily said in a report.

Guo Guangchang's Shanghai-based Fosun Group tax contribution of four billion yuan was the highest.

Expanding wealth did not lead to more generous donations. The 120 richest people donated an average of only 6.23 million yuan, the same as last year.

Huang Rulun, president of the Century Golden Resources Group in southeast China's Fujian Province, donated 16 million yuan and tops the donation list.

The remaining 119 entrepreneurs contributed five million yuan on average. The number one on the rich list is Shi Zhengrong, of the Suntech Power Co, Ltd in eastern Jiangsu Province, who boasts a fortune of 15.5 billion yuan.

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