(CFP)

Wu Yajun was named the richest woman on the Chinese mainland by Forbes magazine. Wu and her family ranked 232nd on the publication's newest list of the world's richest billionaires, with estimated net worth of $3.9 billion, which was the sixth largest for Chinese mainlanders who made the list.

Wu is President of Chongqing-based Longfor Properties in southwest China and holds a 46.9-percent stake in the company. At the end of last November, Longfor Properties raised $3.38 billion in the largest initial public offering by a Chinese mainland real estate developer in Hong Kong in the year.

Wu, 46, started her business in 1993, after working in a Chongqing newspaper for six years as reporter and editor. She founded Longfor Properties in 1995, which centers on the development of high-end residential projects.