IPO

Every Tuesday and Thursday, Inkstone Explains unravels the ideas and context behind the headlines to help you understand news about China. China’s billionaire class has a new member, Zhong Shanshan, who made his wealth from one of the country’s hottest commodities: bottled water. Zhong, who chairs one of China’s largest beverage bottling companies, has joined the likes of Alibaba founder Jack Ma, Tencent CEO Pony Ma and real estate mogul Hui Ka-yan on the Forbes China Rich List. (Alibaba Group is the parent company of Inkstone.) According to Forbes, Zhong was worth $54.2 billion on September 21, making him the second-richest man in China, behind only Tencent’s Pony Ma. Zhong shot up the rank