{"id":29925,"date":"2016-10-14T12:47:35","date_gmt":"2016-10-14T05:47:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-things-we-learned-from-the-2016-richest-people-in-china-report\/"},"modified":"2016-10-14T13:00:01","modified_gmt":"2016-10-14T06:00:01","slug":"7-things-we-learned-from-the-2016-richest-people-in-china-report","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-things-we-learned-from-the-2016-richest-people-in-china-report\/","title":{"rendered":"7 things we learned from the 2016 Richest People in China report"},"content":{"rendered":"<p>&#013;<br \/>\nMore billionaires in China than the US now<br \/>\nCrossing the street in Shanghai, China\u2019s largest city. TonyV3112 \/ Shutterstock.com<br \/>\nNew names appeared side-by-side with veteran business magnates in the latest \u201cRichest People in China\u201d report released\u00a0Thursday by Shanghai-based luxury magazine publisher Hurun. A total of 2,056 individuals qualified in this year\u2019s list of Chinese individuals whose minimum net worth stands at CNY2 billion (USD297 million).<br \/>\nHurun\u2019s list has ballooned by 179 individuals from last year\u00a0and double that of three years ago. The increase is particularly remarkable given China\u2019s economic slowdown as well as the 20 percent drop in its domestic stock markets, Hurun researchers noted.<br \/>\nHere are seven of the biggest talking points from the report:<br \/>\n1. Make way for \u201chostile takeover king\u201d Yao Zhenhua<br \/>\nOne of the most remarkable insights from the report is the expeditious rise of Yao Zhenhua. The 46-year old chairman of property and insurance conglomerate Baoneng powered 200 places up the list to become China\u2019s fourth richest person, with a net worth of USD17.2 billion. Yao vaulted to public consciousness this year with his highly publicised takeover of property developer Vanke. \u201cYao\u2019s financial investment model represents the new wave of wealth creation in China,\u201d said Hurun Report chairman and chief researcher Rupert Hoogewerf.<br \/>\n2. Wang Jianlin and Jack Ma are the richest men in\u00a0China<br \/>\nWang Jianlin, chair of property giant Dalian Wanda, and Jack Ma, the storied founder of e-commerce titan Alibaba, are the richest persons in China, in that order. Despite a 2 percent drop in his net worth, Wang remains the country\u2019s wealthiest person with riches of USD32.1 billion. Ma\u2019s net worth, meanwhile, has grown 41 percent in the past year to USD30.6 billion, making him the second richest man in China.<br \/>\nIn third place is Pony Ma, founder of Internet company Tencent. His net worth has risen\u00a038 percent to USD24.6 billion, even though he gave\u00a0USD2.1 billion to charity in the past\u00a0year.<br \/>\n3. New arrivals<br \/>\nThere were new entrants besides Yao in the uppermost tier of Hurun\u2019s rich list. Netease\u2019s Ding Lei, Evergrande\u2019s Xu Jiayin, and Midea\u2019s He Xiangjian now rank among the 10 richest people in China.<br \/>\nElsewhere in the top 100, two new names have arrived: \u201cShaver and Hairdryer King\u201d Li Gaiteng and Chi Yufeng, founder of video game company Perfect World.<br \/>\n4. There are now more billionaires in China than the US<br \/>\nAround 754 dollar billionaires in the world are Chinese; around 66 are in Southeast Asia. Mainland China alone has 594, compared with 535 in the US. China\u2019s billionaire list is down by two people from last year though.<br \/>\nMore: USD3.9 trillion in global wealth to be passed down in next 10 years<br \/>\n5. A great year for wealthy individuals in the property, IT and finance industries<br \/>\nTotal wealth from the Hurun Rich List rose 7 percent, in line with China\u2019s GDP growth. \u201cIf you look at absolute wealth on the Hurun Rich List, it has come from three main sources: real estate, driven by China urbanization program, IT, driven by the digitalization of the country, and manufacturing, based on China\u2019s early export model,\u201d said Hoogewerf.<br \/>\n\u201cToday it is about using the capital markets for financial investments,\u201d he added.<br \/>\n6. More women are becoming billionaires<br \/>\nAround 24 percent of Hurun\u2019s rich list consist of women, a 3 percent increase from last year. Dubbed the \u201cReal Estate Queen\u201d of Beijing, Fuwah founder Chen Lihua is the 20th richest person in China, with a net worth of USD7.54 billion.<br \/>\n7. The young and the restless<br \/>\nThree individuals, born in the 1990s, placed in this year\u2019s list. Around 181 individuals are under age 40, most notably Jack Wang Qicheng, 36-year-old founder of IT company Hakim, and Frank Wang Tao, 35-year-old founder of drone maker DJI.<br \/>\nRead next: 5 things we learnt from the World Ultra Wealth Report&#013;<br \/>\n&#013;<br \/>\nSource : property-report.com&#013;<br \/>\nRead more&#8230;<a href=\"http:\/\/www.property-report.com\/7-things-we-learned-from-the-2016-richest-people-in-china-report\/\" target=\"_blank\">7 things we learned from the 2016 Richest People in China report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#013; More billionaires in China than the US now Crossing the street in Shanghai, China\u2019s largest&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-29925","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7MF","jetpack-related-posts":[{"id":112026,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-richest-builder-loses-wealth-while-top-10-billionaire-developers-boost-combined-worth-hurun-report\/","url_meta":{"origin":29925,"position":0},"title":"China\u2019s richest builder loses wealth while top 10 billionaire developers boost combined worth: Hurun Report","date":"October 31, 2019","format":false,"excerpt":"\r China\u2019s richest builder Hui Ka-yan, the boss of Evergrande, suffered the biggest setback among the nation\u2019s top 10 property moguls after policymakers tightened the screw on the industry to curb speculations. Second-ranked Yang Huiyan retained her position as the richest woman in the latest Hurun Report.Hui\u2019s net worth shrank\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-hongbin-from-outside-top-50-to-chinas-fourth-richest-property-tycoon-in-just-12-months\/","url_meta":{"origin":29925,"position":1},"title":"Sun Hongbin: from outside top 50 to China\u2019s fourth-richest property tycoon in just 12 months","date":"October 30, 2017","format":false,"excerpt":"\r A series of aggressive asset purchases over the past year has propelled real estate magnate Sun Hongbin into China\u2019s top five property billionaires, from outside the top 50, 12 month ago. His sweeping ascendancy is part of a reshuffle at the top of China\u2019s property wealth ladder, reflected in\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jack-ma-regains-title-as-chinas-richest-man\/","url_meta":{"origin":29925,"position":2},"title":"Jack Ma regains title as China\u2019s richest man","date":"October 10, 2018","format":false,"excerpt":"\r Alibaba founder tops Hurun list after Ant Financial valuation boosts his wealth\r \r Source : ft.com\r Read more...Jack Ma regains title as China\u2019s richest man","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132614,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-to-most-real-estate-billionaires-in-southeast-asia\/","url_meta":{"origin":29925,"position":3},"title":"Singapore home to most real estate billionaires in Southeast Asia","date":"March 14, 2019","format":false,"excerpt":"\r Singapore is home to the most number of billionaires who made their fortunes from real estate, according to the Hurun Global Real Estate Rich List 2019. The city-state has 10 property billionaires, ranking fourth place worldwide behind China, the US and UK. These billionaires have a combined net worth\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114415,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-no-longer-in-huruns-top-50-cities-for-fastest-growing-home-prices-after-social-unrest-killed-off-demand\/","url_meta":{"origin":29925,"position":4},"title":"Hong Kong no longer in Hurun\u2019s top 50 cities for fastest-growing home prices after social unrest killed off demand","date":"February 21, 2020","format":false,"excerpt":"\r Hong Kong\u2019s home prices are no longer among the fastest growing on the planet, after months of volatile street protests destroyed demand, according to a new report by Shanghai-based Hurun.The city, famous for its exorbitant property prices, has fallen off Hurun\u2019s annual list of the top 50 cities ranked\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23673,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/soaring-demand-for-luxury-care-homes-in-china\/","url_meta":{"origin":29925,"position":5},"title":"Soaring demand for luxury care homes in China","date":"August 23, 2016","format":false,"excerpt":"\r HNW Chinese are demanding more from their retirement Luxury living is not just for the young. Image credit: kazoka\/Shutterstock.com Chinese citizens are increasingly opting to spend their twilight years in luxury care homes instead of their own abodes under the care of their children. In a survey of 1,125\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/29925"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=29925"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/29925\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=29925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=29925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=29925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}