6 Xiamen tycoons on Hurun Global Chinese Rich List 2015
Hurun Research Institute on Wednesday released the Hurun Global Chinese Rich List 2015, a ranking of the richest Chinese in the world.
6 tycoons from Xiamen are listed on the ranking. Lin Xiucheng from Sanan Group ranked 166th with 14 billion yuan, Huang Xi at 197th with 13 billion yuan, and Ke Xiping and Hou Cang Ping sharing the 405th place both with 7.3 billion yuan.
The richest man in Fujian Province is Lin Wenjing from Rongqiao Group, ranking 72nd with 24.5 bilion yuan.
Spread across more than 18 countries and regions, Hurun's research said there were 1,577 individuals with personal wealth in excess of 2 billion yuan ($312.6 million), with 302 individuals hailing from outside the Chinese mainland.
Total wealth of these individuals add up to a staggering $2.1 trillion, which is equivalent to the GDP of Russia, or 1.5 times that of South Korea.
Key Findings of the Report
Global Chinese impact
*Hurun Research found 1577 Chinese with wealth of CNY 2 billion (US$320m). “Assuming that we have missed at least two for every one we have found, there should probably be close to 5000 Chinese around the world with more than CNY 2 billion,” says Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
*Total wealth of these 1577 individuals amounts to US$2.1 trillion, equivalent to the GDP of Russia or 1.5 times that of South Korea.
*504 are dollar billionaires.
Rise of Mainland China.
*Li Ka-shing, 87, overtaken for the first time. Wang Jianlin, 61, today the richest Chinese in the world.
*Mainland China dominates with 79.5% of the list, followed by Hong Kong with 6.3% and Taiwan with 4.9%. Next come Singapore, Malaysia and Indonesia respectively.
City of Residence: 7 of the top 10 cities with the highest concentration of wealth are in mainland China, led by Beijing with 181 living there, followed by Shenzhen with 111.
Links back to China. Almost half of the non-mainland Chinese on the list have their origins in Guangdong and Fujian. For mainland China, Zhejiang dominates.
Industries: Real estate and manufacturing lead the way. For non-mainlanders, food & drinks and transportation were significantly higher, up to three times and double that of mainland China respectively. “Gone are the days when the Chinese were best-known for opening restaurants in Chinatowns around the world,” says Hoogewerf.
Age: Average age is 56 years, i.e. born in 1959. “Non-Mainlanders are 68 on average, starting up in 1978, 15 years earlier than their mainland counterparts, who started up in 1993 on average,” says Hoogewerf.
Self-made: Only 67% of non-mainlanders are self-made, compared with mainland China, where significantly all are self-made. 6% of non-mainlanders on the list are in their third generation.
Female: 345 females make the list, 18% of the total. Kwong Siu Hing of Sun Hung Kai is the richest woman with a fortune of US$10.5 billion. “Chinese dominate when it comes to the world’s most successful women in business,” says Hoogewerf.
Chinese may account for 20% of the world’s population, but global Chinese dollar billionaires make up 25% of the Hurun Global Rich list (released in February 2015), showing that in business, Chinese have outstripped their peers.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.