Wu Yajun, Chairwoman of Longfor Properties. [File photo]

Wu Yajun, chairwoman of Longfor Properties, surpassed Zhang Yin of Nine Dragons Paper to become China's richest woman, snatching seventh place overall on the 2011 Hurun Rich List released Wednesday.

Wu's personal fortune of 42 billion yuan (US$6.57 billion) increased 50 percent from last year's figure of 28 billion yuan. Her entry this year is Wu's tenth appearance on the list and is an improvement on her eighth place ranking from last year.

Chongqing-based Longfor Properties, in which Wu's family holds a 76 percent stake, reported revenue of 18.3 billion yuan, a 74 percent increase from 2010.

The Hurun Report's annual rich list, compiled by a research institute in Shanghai, traces the richest people in China. It competes with another rich list compiled by US magazine Forbes.

China's business press carried the story above on Thursday.