Another Day Another Chinese Billionaire

Ni Zugen, chairman of home appliance maker Kingclean Electronic yesterday joined the swelling ranks of Chinese billionaires.

His business KingClean Electric Co. Ltd made a soaring debut on the Shanghai Stock Exchange taking his wealth via his holdings to in excess of $1.3 billion.

Founded in late 1994 in Suzhou KingClean Electric manufactures small home appliances. The Company also researches, develops, designs, produces, and sells, high pressure washers, motors, kitchen appliances, vacuum cleaners and garden tools across the globe and also offers an online sales service.

China is now home to the world’s second-largest population of billionaires after the United States.

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