Hong Kong's 40 richest people saw their total net worth grow from $82 billion in 2008 to $135 billion in 2009, driven mostly by wealth gains from the fast-rising Chinese economy, Forbes Magazine reports.

Li Ka-shing, the 2008 topnotcher, again turned out as the city's wealthiest, gaining $5 billion. According to the publication, not one member of the Hong Kong rich list saw their fortunes decline, with the 24 returning tycoons even noting an increase of at least 50 per cent during the year.

The list also welcomed eight new names, including Vtech cofounder Allan Wong, luxury department store operators Alfred and Edward Chan,and Noble Group vice chairman Harindarpal Banga. Absent from the new list are media tycoon Jimmy Lai, restaurateur Michael Chan, and logistics veteran Jim Thompson. The three gentlemen had recorded increases in their respective net worth but their total was not enough to make the roster, the magazine said.

The city's rich had managed to ride along China's rapid growth, as more of its rich businesspeople opted to increase their investments in the Mainland, particularly in the real estate, retail, and manufacturing sectors. More than a dozen of the members of the list reportedly have significant holdings in Chinese realty projects.

Quite notably, however, while Hong Kong's richest boosted their wealth significantly, their combined total was still $44 billion lower than 2008's record high of $179 billion, the publication wrote. This is likely attributable to the general cautious response to the Chinese government's plans to tighten its monetary policies, among other issues related to recovery actions from the recent global financial crisis.

The report was based on shareholding and financial data compiled from the families and individuals themselves, as well as concerned analysts and stock exchanges, said the publication.