While the rest of the world struggles to bounce back from the global financial crisis, China’s billionaires are living large, snapping up luxury products at a breathtaking pace.

Beijing’s Jinbao Street is the must-visit address for billionaires with yuan to burn.

Once a maze of alleys, the 800-metre (yard) stretch of road is now home to Rolls-Royce, Bugatti, Lamborghini, Gucci, Cartier, the exclusive Hong Kong Jockey Club and several five-star hotels.

Today, Hurun Report released the names of the Top Two Richest Individuals from the 2009 Hurun Rich List, a ranking of the 1000 richest individuals in China.

Wang Chuanfu of BYD is the richest man in China with wealth of US$5.1 billion, followed by Zhang Yin of Nine Dragons Paper with wealth of US$4.9 billion.

The number of known US Dollar billionaires in China has grown to 130, up from 101 in 2008. The full list is to be released later in October.

A new report has revealed that Beijing has the maximum number of rich people in China.

The latest Hurun Report on China’s wealthiest people said that there are 143,000 (yuan-)multimillionaires and 8,800 billionaires in Beijing.

In Shanghai, there are 116,000 multimillionaires and 7,000 billionaires, reports the China Daily.