By Jonathan Davies

The founder of Chinese internet giant Alibaba, Jack Ma, has been named as China's richest person, according to a wealth survey by Hurun Report.

It comes after Alibaba raised $25bn when it listed on the stock exchange in New York, the highest amount ever raised.

Jack Ma is himself worth $25bn (£15bn), according to the Hurun Report. He is followed closely by Wanda Group chairman Wang Jianlin with $24.2bn.

The list suggests that China is becoming a more tech focused country. The list has traditionally been dominated by property tycoons, but five of the top 10 are made up of internet billionaires.

Hurun Report chairman, Rupert Hoogewerf, said is shows "the entrepreneurial spirit that has caught China seems not to be abating".

"Jack Ma is the 11th Number One we have had in China in the last 16 years, showing the dynamism of the Chinese economy, and a stark reminder of the growth potential that is being realised in the emerging markets".

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