This is factually misleading. By billionaires, they mean people that have 100 million yuan. The China Daily article references it. To put thing in perspective there are about 60,000 people with more than 100M RMB ( approx. $15M USD ).
In Chinese, big numbers are expressed as multiples of 10k, and 100M, e.g. 1 million is spoken as "one hundred ten-thousands" in Chinese. So I think someone incorectly translated 亿富翁 as billionaire, rather than 100 millionaire. It is worth noting that google translate also gets this wrong.
In Chinese, big numbers are expressed as multiples of 10k, and 100M, e.g. 1 million is spoken as "one hundred ten-thousands" in Chinese. So I think someone incorectly translated 亿富翁 as billionaire, rather than 100 millionaire. It is worth noting that google translate also gets this wrong.