The research, Richest Women in China 2012, showed that of the 22 richest self-made female entrepreneurs in the world, half are from China, five are from the United States and three are from the UK. Spain, Italy, and Russia contributed on each.

Rupert Hoogewerf, chairman and chief researcher of associated publication the Hurun Report, said: “If they are among the richest females in the world and are self-made, then they are probably Chinese.”

Guangdong is home to the most female entrepreneurs, with 13 choosing company headquarters in the region, up three on last year. Zhejiang, home to eight female entrepreneurs, beats Beijing this year into second place.

Wu Yajun takes the crown as the richest woman in China and the world’s richest self-made woman in 2012 with a personal fortune of USD $6 billion.

Despite slight increases in some personal fortunes, overall wealth of those on the list has fallen. Twenty-two individuals made it onto this year’s Richest Self-Made Women in the World List, with the cut off of US$1 billion, a drop on last year’s twenty-eight entrepreneurs. This year’s average wealth was US$2.2billion, a 6.8 per cent decrease on last year while the average age is 54, up a year on last year.

In terms of industry, thirty per cent of female entrepreneurs made their fortune in real estate, a fifth in the manufacturing sector and 14 per cent in clothing retail.