Liang Wengen, chairman of Sany Group?[Photo/Xinhua]

Top 50 of the Hurun China Rich List 2011 was released by the Hurun Research Institute Wednesday. Liang Wengen, chairman of Sany Group, tops the list by possessing $11 billion in assets.

Zong Qinghou, founder of China's largest beverage producer, Wahaha, ranked second with a wealth of $10.7 billion.

Robin Li, CEO of search site Baidu Inc, came in at No 3 with $8.8 billion.

According to the list, the number of Chinese billionaires is growing. There are 127 whose assets have exceeded 10 billion yuan ($1.56 billion), up 30 percent than the previous year.

According to the Hurun Wealth Report 2011, one out of every 1,400 Chinese residents, or 960,000 individuals, have assets worth at least 10 million yuan ($1.57 million), a number that has increased by 9.7 percent since 2010.

Of these, 55 percent are business owners, 20 percent property speculators, 15 percent stock advisers and 10 percent salaried executives.

China is also home to 60,000 of the "super-rich", who have 100 million yuan or more, a number that has increased by 9 percent since 2010.