Wang Jianlin, the movie chain tycoon, has become China's richest man with an estimated fortune of $14 billion, overtaking beverage entrepreneur Zong Qinghou, according to Forbes China.

Analysts said that entrepreneurs who have seized opportunities in sectors with growing domestic demand saw surging personal wealth levels in the past couple of years, as the private sector is getting increasingly internationalized while still trying to cater for local tastes.

Wang, 59, is best known for his purchase of the United States-based AMC Entertainment Inc movie theater chain last year. Dalian Wanda Commercial Property Co Ltd, an unlisted company with a net worth of $16 billion, which has 72 Wanda Plaza shopping centers and 40 five-star hotels, is the major source of Wang's wealth. About 64 percent of the commercial real estate company is owned by Wang and his family, Forbes China said.