Wu Yajun

Net worth: $3.9 billion
Chief executive of real estate developer Longfor Properties; took it public on Hong Kong stock exchange in 2009. As an engineer, worked at Qianwei Meter Factory for four years; spent next five working at the China Shirong News Agency. Shortly after, began developing real estate in her hometown of Chongqing. Now has properties in 10 cities.

Xiu Li Hawken

Net worth: $2.4 billion
U.K. citizen is the biggest shareholder in Renhe Commercial Holdings, which listed in Hong Kong in 2008 and runs shopping centers that occupy what were underground military shelters. Graduated from China's Heilongjiang University in 1986 with a degree in Chinese literature. 

Chu Lam Yiu

Net worth: $2.1 billion
Hong Kong tycoon chairs Huabao International, which makes tobacco flavorings for China's top cigarette makers; also makes fragrances and food flavorings for use in detergents, beverages, dairy products and cosmetics. Founded the company a decade ago and took it public through a reverse takeover. Sold a chunk of shares in 2008 and again in October 2009; still owns 51% of its shares.

Zhang Xin

Net worth: $2 billion
Founded and runs Beijing property developer Soho China with her husband, Pan Shiyi. Last year made the biggest land purchase in Beijing by a non-state-owned company, $586 million for 12 acres. Earned a master's degree in development economics from Cambridge University in 1992. Got start at international firms Goldman Sachs, Travelers Group.

Yan Cheung

Net worth: $1.7 billion
China's paper queen makes a big comeback: Worth $265 million in October 2008, her fortune is up sixfold with a resurging stock market. Daughter of a Guangdong Province army officer and eldest of eight children, Yan got her start importing waste paper in Hong Kong in 1985. After a stint running a recycling plant in the U.S., Yan returned to China to launch Nine Dragons (whose name implies "highest fortune") with her husband and brother. All three are billionaires; she is chairman.

Chan Laiwa

Net worth: $1.1 billion
Real estate investor is developing properties on Jinbao Street, Beijing's luxury shopping district. Customers and partners include the Regent Hotel, the Hong Kong Jockey Club, Ferrari and Lamborghini. Chan is also curator and founder of China Red Sandalwood Museum. Exchanges between the museum and others, such as the Smithsonian, have made her a "cultural diplomat."

Lei Jufang

Net worth: $1.1 billion
Runs Tibet Cheezheng Tibetan Medicine, which makes ointments, plasters and powders designed to relieve pain and respiratory problems. Shares, first publicly offered in August, trade at 46 times trailing earnings. Owns 81% of firm. Has a degree in vacuum physics.