Bang & Olufsen shares soared after the identity of its Chinese suitor became clearer, and a Danish newspaper reported the offer topped yesterday’s closing price by 25%.

China has passed the United States in the number of billionaires, driven by the rise of fortunes in technology and manufacturing, according to a new survey.

 A communist regime trying to create a casino-like capitalist market is just one of the contradictions accumulating in almost every corner of China’s economy and politics, writes Pranab Bardhan

China’s richest man plans to invest 50 billion yuan (€6 billion) to build the country’s version of Hollywood in the eastern city of Qingdao.