BEIJING REAL ESTATE QUEEN CHEN LIHUA TAKES CROWN OF RICHEST WOMAN IN CHINA WITH US$7.5BN FORTUNE
HURUN REPORT - LEADING AUTHORITY ON CHINA’S WEALTHY - RELEASES RICHEST WOMEN IN CHINA 2016 IN ASSOCIATION WITH Backes & Strauss, the world’s oldest diamond company
‘Beijing Real Estate Queen’ Chen Lihua, 75, becomes richest women in China for first time and most successful businesswoman in world with US$7.5bn fortune. Chen is the fifth person to top the list in the past 11 years. Yang Huiyan, 35, came in at second with US$7.2bn, followed by last year’s Number One ‘Touchscreen Queen’ Zhou Qunfei, who dropped to third position with US$6.7bn, down 10%.
62% are self-made, 4 less than last year. The others include 11 wives of entrepreneurs, 8 second generation and 1 third generation.
8 millennials, born in the eighties, of which Wu Yan, is the only self-made. The seven others are Ji Kaiting, 27, Xu Yangyang, 33, Zhou Yanqi, 33, Kang Qiao, 34, Yang Huiyan, 35, Lu Xiaoyun, 36 and Liu Chang, 36.
Cut-off to Top 50and average wealth were US$1.2bn and US$2.3bn, both up 7% year on year, similar to China’s GDP growth.
China dominates with 60% or 41 of the world’s 72 female self-made billionaires, led by Chen Lihua, Zhou Qunfei,Wu Yajun of Longfor Real Estate and ‘Paper Queen’ Zhang Yin. US is in second place with 14, followed by UK, India, Spain, Australia, Brazil, Italy, Nigeria, Denmark and Switzerland.
12 new faces, 2 less than last year, of which 6 self-made.
Industry. Real estate continues to dominate with 23% of the women making their money here, down 2%. Finance & investing shot up by 4% to rise to second, followed by manufacturing in third place. On the full Hurun Rich List 2016, manufacturing, real estate and IT lead the way.
Residence. Beijing and Shenzhen led the way, with 12 and 9, followed by Shanghai with 6.
Growth slows down. Cut-off to the Top 50 was US$1.2bn, up 7% year on year,and 15 times in last ten years; average wealth US$2.3bn, up 7%, up 7 times in last ten years.
Comparing the wealth of the Top 50 Women with the Top 50 Men from the Hurun China Rich List, the men have 3.6 times the wealth of the women.
High-profile divorce settlement. Chinesegamedeveloper Li Qiong, 39, of Kunlun divorced with ex-husband Zhou Yahui after their listing of the company in January.
Birthplace. Women born in Guangdong topped the list with 5 while Zhejiang continue to make the best wealth creators on the Hurun Rich List 2016. Guangdong also has the most women entrepreneurs in the Hurun Richest Self-Made Women in the World.
Political Appointments: 6 individuals or 12% have senior political appointments, one less than last year, a higher percentage than that of the Hurun Rich List 2016 (9.8%).
Average Age is 48, 3 years older than that of last year, and 5 years younger than that of the Hurun Rich List.
Chinese Star Signs It has been a good year for women born in the year of the Ox and Snake and a bad year for women born in the year of the Rabbit and Rat. Interestingly, women born in the year of the rabbit, came second bottom, compared with a perennial top spot for the full Hurun Rich List.
London-based diamond watch company Backes & Strauss title partner, for first time.
(27 October 2016, Shanghai) The Hurun Research Institute today released the Backes & Strauss • Hurun Richest Women in China 2016, ranking the 50 wealthiest women in China. Wealth calculations are a snapshop of 15 August 2016. This is the eleventh year of the list and is a part of the Hurun China Rich List series, first launched on 13 October.
Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, says, “China is head and shoulders above the rest of the world when it comes to minting the world’s most successful women in business. I am delighted to be putting out this list with Backes & Strauss, since the brand equity of Backes & Strauss is synominous with the successful and confident women.”
Vartkess Knadjian, Backes & Strauss CEO, says “When it comes to business, Chinese women are the most successful in the world. Recognising the feats of these self-made women who have striven to the pinnacle of success with determination, expertise, a pioneering vision and hard work, Backes & Strauss is delighted to support and identify these inspirational Chinese women entrepreneurs and recognise them for their achievements and contributions to business on a global scale."
This is a summary of the Chinese press release. For the full press release, please refer to the Chinese language version.
The Top 10 of the Backes & Strauss • Hurun Richest Women in China 2016
There are 3 new entries to the Top 10.
Change / Name / Wealth US$m / % Change / Company / Age / Key Source of Wealth1 ↑ / +1 / Chen Lihua / 7,500 / 2% / Fu Wah / 75 / Real estate
2 ↑ / +1 / Yang Huiyan / 7,200 / 20% / Country Garden / 35 / Real estate
3 ↓ / -2 / Zhou Qunfei / 6,700 / -10% / Lens / 46 / Manufacturing
4 - / 0 / Wu Yajun / 4,900 / 22% / Longfor / 52 / Real estate
5 - / 0 / Zhang Yin / 4,600 / 17% / Nine Dragons Paper / 59 / Paper & Packaging
6 * / +6 / Zhang Jin & Huang Maoru / 3,400 / 32% / Maoye / - / Real estate, retail
7 ↑ / +1 / Zhang Xin & Pan Shiyi / 3,300 / 13% / SOHO / 51 / Real estate
8 * / New / Chen Liling & Xu Yangyang / 3,200 / New / Dali / -,33 / Food
9 * / New / Huang Qiongzi & Lu Xiaoyun / 3,100 / New / Ocean Wide / -,36 / Real estate, finance, investments
10 - / 0 / Lu Qianfang & Chen Zhuolin / 3,000 / 14% / Agile / 55 / Real estate
Source: Backes & Strauss·Hurun Richest Women in China List 2016
↑Rank increase yoy ↓Rank decrease yoy –No rank change yoy *New to top 10
Residences by city. Beijing and Shenzhen led the way, with 12 and 9, followed by Shanghai with 6. By birthplace, women born in Guangdong led the way.
Table: Geographic Distribution
Company HQ / No. of people (Change) / Richest woman / Birthplace / No. of people (Change)1 - / Guangdong / 17 (+1) / Yang Huiyan / 1 - / Guangdong / 5 (0)
2 - / Beijing / 12 (+2) / Chen Lihua / 2↑ / Shanghai / 3 (+1)
3 - / Shanghai / 6 (+1) / Chen Jinxia / 2↑ / Jiangsu / 3(+1)
4↑ / Zhejiang / 4 (+1) / Wu Yan / 2↑ / Sichuan / 3(+1)
5↓ / Jiangsu / 3 (-1) / Zhou Yanqi / 2↑ / Zhejiang / 3 (+1)
6↑ / Fujian / 2 (0) / Huang Xi / 6↓ / Beijing / 2 (-1)
6↑ / Hunan / 2 (0) / Zhou Qunfei / 6↓ / Chongqing / 2 (0)
8↓ / Hong Kong / 1 (-2) / Xu Huiqing / 6↓ / Fujian / 2 (0)
8↑ / Tibet / 1 (0) / Lei Jufang / 6↑ / Anhui / 1 (+1)
8↑ / Hebei / 1 (0) / Zhao Baoju / 10↓ / Shanxi / 1 (0)
8↑ / Sichuang / 1 (0) / Li Wei, Liu Chang / 10↓ / Gansu / 1 (0)
8 * / USA / 1 (+1) / Dai Weili / 10↓ / Hunan / 1 (0)
8 * / Hainan / 1 (+1) / Kang Qiao / 10 * / Shanxi / 1 (+1)
10 * / Hong Kong / 1 (+1)
Source: Backes & Strauss·Hurun Richest Women in China List 2016
↑Rank increase yoy ↓Rank decrease yoy –No rank change yoy *New to list yoy
By sector
Real estate continues to dominate the list with 23% of the women making their money here, although down 2%. Finance & investing shot up by 4% to rise to second, followed by manufacturing on the third place. On the Hurun Rich List 2016, the Top 3 industries are manufacturing, real estate and IT.
Table: Sectors of Richest Women in China
Richest Women in China 2016 Hurun Rich List 2016
Industry / No. of Indiv. (Change) / % / Industry / %1 - / Real Estate / 16 (-) / 23% (-2%) / 1 - / Manufacturing / 26%
2 - / Finance & Investing / 13 (3) / 19% (+4%) / 2 - / Real Estate / 15%
3↓ / Manufacturing / 10 (-) / 14% (-1%) / 3 - / IT / 12%
4 - / IT / 9 (3) / 13% (+4%) / 4 - / Finance + Investments / 11%
5↓ / Pharmaceuticals / 6 (-) / 9% (-) / 5 - / Pharmaceuticals / 6.6%
6 - / Apparel / 3 (-) / 4% (-1%) / 6↑
6↑ / TMT / 3 (1) / 4% (+1%) / 7↓ / Retail / 4.7%
8 - / Energy / 2 (-) / 3% (-) / 8↑ / Natural Resources / 4.5%
8↑ / Food & Beverages / 2 (1) / 3% (+1%) / 9↓ / Food & Beverages / 3.3%
8↑ / Iron + Steel / 2 (1) / 3% (+1%) / 9↑ / Apparel / 3.2%
11↓ / Real Estate / 1 (-2) / 1% (-4%) / 11↑ / Media Entertainment / 3.2%
11 - / Agriculture / 1 (-) / 1% (-1%) / 12↑ / Services / 2.4%
12↓ / New Energy / 2%
14↓ / Agriculture / 2 %
Source: Backes & Strauss·Hurun Richest Women in China List 2016
↑Rank increase yoy ↓Rank decrease yoy –No rank change yoy
Age: Average age is 48, two years older than last year and 5 years less than the Hurun Rich List; 11 of them are from the seventies, 7 from the eighties, led by Ji Kaiting, 27, Xu Yangyang, 33, Zhou Yanqi, 33, Kangqiao, 34, Yang Huiyan, 35, Luxiaoyun, 36 and Liu Chang 36.
Political Appointments: Political Appointments: 6 individuals or 12% have senior political appointments, one less than last year, a higher percentage than that of the Hurun Rich List 2016 (9%).
Self-made. 32 are self-made, accounting for 62% of the list, four more than last year.
Chinese Star Signs
It has been a good year for women born in the year of the Snake and Ox and a bad year for those born in the years of the Rabbit and Pig.
Star Sign / No. of women (change yoy)1 - / Snake / 6 (+1)
1 ↑ / Ox / 6 (+4)
3 - / Dog / 5 (+1)
3 ↑ / Sheep / 5 (+2)
5 - / Chicken / 4 (+1)
6 ↑ / Monkey / 3 (-2)
7 ↓ / Pig / 3 (+2)
7 ↑ / Dragon / 3 (+2)
9 ↓ / Horse / 2 (-2)
9 ↓ / Tiger / 2 (-1)
11 ↓ / Rabbit / 1 (-2)
12 / Rat / 0
Source: Backes & Strauss·Hurun Richest Women in China List 2016
↑Rank increase yoy ↓Rank decrease yoy –No rank change yoy
Stats
Chen Lihua is the fifth woman to hold the title of Number One.
Year / Average Wealth US$m / Cut Off US$m / Number One2006 / 290 / 70 / Zhang Yin
2007 / 1280 / 170 / Yang Huiyan
2008 / 800 / 220 / Yang Huiyan
2009 / 1030 / 230 / Zhang Yin
2010 / 1350 / 370 / Zhang Yin
2011 / 1520 / 380 / Wu Yajun
2012 / 1380 / 380 / Wu Yajun
2013 / 1390 / 480 / Yang Huiyan
2014 / 1450 / 720 / Yang Huiyan
2015 / 2100 / 1050 / Zhou Qunfei
2016 / 2300 / 1200 / Chen Lihua
Source: Backes & Strauss·Hurun Women Rich List 2016
Methodology
The Hurun Research Institute was the first to publish a list of the richest self-made women in China in 2006, on the back of its research into the Chinese entrepreneurial landscape. Since then, Hurun Research has been publishing an annual list of the Top 50 Richest Women in China, which includes both self-made and inherited wealth and which this year celebrates its tenth anniversary.
As with the annual Hurun China Rich List and its annual Hurun Global Rich List, Hurun Research has sifted through publicly available sources, meticulously cross-checking them to assess the wealth of these women.
For the Chinese, the cut-off date was 14 August 2016 and the Dollar to CNY exchange rate used was 1:6.7. The term “Chinese entrepreneur” refers to any individual born and raised in Mainland China regardless of her current nationality or residence. For the non-Chinese, the source is the Hurun Global Rich, released in February this year.
For the Hurun Richest Self-made Women in the World, the term ‘self-made’ is defined as either a founder or co-founder of the wealth.
For comparisons with the Hurun Rich List 2016 released on 13 October, please refer to:
ABOUT BACKES & STRAUSS
As the world’s oldest diamond company (est. 1789), Backes & Strauss has constantlylooked forward, pioneering new diamond cutting techniques and enthrallingconnoisseurs with its compelling designs. As part of the Franck Muller group, theresult of the meeting of masters of complications with masters of diamonds is acollection of timepieces so intricate, they are veritable masterpieces both inside andout.
Reflecting Backes & Strauss’ London provenance, the five core collections oftimepieces are: Berkeley, Piccadilly, Regent, Renaissance and Victoria. Crafted ineither 18 karat white or rose gold and elegantly set with diamonds, these watches areinspired by London’s Regency architecture, notably the classical proportions and boldsymmetry of John Nash’s work for the Prince Regent in 1811. For the brand’sbicentenary in London, Backes & Strauss announced the opening of the House ofBackes & Strauss in Mayfair, which showcases the many extraordinary timepiecesacclaimed throughout the world alongside the historical archives revealing clients like
Jacques Cartier.
The ultimate testament to the company’s uncompromisingly expertise in diamondcutting is the Hearts and Arrows pattern shown by each Backes & Strauss diamondwhen viewed with a special instrument. The pattern is a series of eight arrowheadswhen viewed from above the crown with one eye and eight heart shapes whenviewed from below the pavilion. The team of expert diamond cutters and polishers atBackes & Strauss takes extensive care to manually polish each diamond toperfection, a skill they have refined over the years of experiences. And every round,brilliant diamond used at Backes & Strauss is an ‘Ideal Cut’ diamond, designed toemanate optimum fire and brilliance.
A Backes & Strauss experience begins with a desire to own a masterpiece like noneother… Backes & Strauss bespoke services provide with the opportunity to beinvolved in every step of the creation of a one-of-a-kind piece revealing the uniqueappeal the team is willing to give to each and every customer.
About Hurun Report Inc.
since 1999
Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala, in India.
Hurun Report Inc has five divisions.
Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.
Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between one and two million unique viewers a week through its multi-platform distribution. Hurun Media has four key media brands, led by Hurun Report (business and entrepreneurship), Hurun Education, Hurun Art and Hurun Health. Its flagship business media Hurun Report has an active WeChat social media, an online business talk show called MaShangHu, distributed through iQiyi, and PC- and Mobile-friendly Hurun.net.
Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year. Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India. Hurun Business School started in 2016.
Hurun International. Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs.
Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, media, classic cars, financial services and luxury.
For further information, see
Official Wechat platform: HurunReport
For media inquiries, please contact:
Porsha Pan
Tel: 021-50105808*601
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APPENDIX: FULL LIST
Backes & Strauss • Hurun Richest Women in China 2016
Change / Name / Wealth US$m / Change（%） / Company / Age / Key Source of Wealth1 / 1 / Chen Lihua / 7,500 / 2% / Fu Wah / 75 / Real estate
2 / 1 / Yang Huiyan / 7,200 / 20% / Country Garden / 35 / Real estate
3 / -2 / Zhou Qunfei / 6,700 / -10% / Lens / 46 / Manufacturing
4 / 0 / Wu Yajun / 4,900 / 22% / Longfor / 52 / Real estate
5 / 0 / Zhang Yin / 4,600 / 17% / Nine Dragons Paper / 59 / Paper & Packaging
6 / 6 / Zhang Jin & Huang Maoru / 3,400 / 32% / Maoye / - / Real estate, retail
7 / 1 / Zhang Xin & Pan Shiyi / 3,300 / 13% / SOHO / 51 / Real estate
8 / New / Chen Liling & Xu Yangyang / 3,200 / New / Dali / -,33 / Food
9 / New / Huang Qiongzi & Lu Xiaoyun / 3,100 / New / Ocean Wide / -,36 / Real estate, finance, investments
10 / 0 / Lu Qianfang & Chen Zhuolin / 3,000 / 14% / Agile / 55 / Real estate
11 / -1 / Ma Dongmin / 2,900 / 11% / Baidu / 46 / IT
11 / -2 / He Qiaonv / 2,900 / 3% / Orient Landscape / 50 / Landscaping
13 / -6 / Chen Jinxia / 2,800 / -5% / Yongjin / 48 / Pharmaceutical, Investment
13 / 24 / Wu Chunyuan / 2,800 / 116% / AAC Acoustic Technologies / - / Acoustics
15 / -9 / Zhou Jianping / 2,500 / -21% / Hailan / 33 / Apparel, investments
16 / -4 / Li Wei & Liu Chang / 2,400 / -6% / New Hope / -,36 / Agriculture, finance
17 / -2 / Zhu Linyao / 2,300 / 7% / Huabao International / 46 / Fragrances, flavouring
18 / -1 / Zhou Xiaoguang / 2,240 / 11% / Xinguang / 54 / Jewelry, real estate, investments
18 / -3 / Wu Yan & Wang Qicheng / 2,240 / 3% / Hakim / 35 / IT, media, real estate, investment
18 / 12 / Xu Huiqing & Huang Minli / 2,240 / 43% / Manwah / 53 / Recreational sofa
21 / -7 / Zhang Xiaojuan & Yu Huijiao / 2,090 / -13% / YTO / - / Express delivery
22 / 0 / Ji Kaiting & Ji Haipeng / 2,010 / 13% / Logan Estate / 27 / Real estate
22 / 0 / Li Shanhu & Xu Yu / 2,010 / 0% / Trendy International / - / Apparel
24 / 5 / Liu Jiehong / 1,940 / 18% / Amer / - / Cable and copper products
25 / 1 / Huang Xi / 1,790 / 4% / Goodfirst / - / Finance, real estate
26 / 13 / Chen Baozhen / 1,720 / 35% / Wangsu Science & Technology / 73 / IT
26 / 19 / Yao Lini / 1,720 / 44% / Cheung Kei / - / Investment, real estate
26 / -8 / Liao Qingqing / 1,720 / -12% / Salubris Pharmaceuticals / 67 / Pharmaceuticals
29 / -7 / Wang Laichun / 1,640 / -8% / Luxshare Precision / 49 / Computer connectors
30 / -8 / Lei Jufang / 1,570 / -13% / Qizheng Pharmaceutical / 63 / Pharmaceuticals
30 / 3 / Zhao Yilan & Zhou Qingzhi / 1,570 / 11% / Narada / 38 / Battery, investment
30 / -11 / Bu Yang / 1,570 / -16% / Suning / 43 / Retail, real estate
30 / -4 / Zuo Xiaoping & Huang Lianxi & / 1,570 / -9% / L&S / 43 / Plastic pipes and fittings
30 / New / Zhao Yan / 1,570 / New / Bloomage / 49 / Investments, real estate
35 / New / Shi Jing / 1,490 / New / Giant / 54 / finance, online games
35 / 4 / Lai Yujing & Zhang Yue / 1,490 / 18% / Broad / - / Air conditioning, environmental construction
35 / New / Kang Qiao / 1,490 / New / Searainbow Corp / 34 / Medical e-commerce
38 / New / Peng Lei / 1,420 / New / Alibaba, Ant Financial / 43 / E-commerce, financial service
39 / -7 / Cheng Xue / 1,390 / -7% / Haitian / 46 / Food flavorings
40 / -5 / Zhao Baoju / 1,370 / 0% / ENN / 51 / Gas, energy
41 / 4 / Zhai Li & Shi Zhengfu / 1,340 / 13% / Tonghua / 45 / Investment
41 / New / Dai Weili / 1,340 / New / Marvell / 55 / Semiconductors, computer chips
43 / -4 / Mei Dong & Gao Dekang / 1,270 / 0% / Bosideng / 49 / Apparel
43 / -4 / Zheng Xiangling / 1,270 / 0% / Sino Biopharmaceutial / 52 / Pharmaceuticals
43 / New / Li Qiong / 1,270 / New / Kunlun Tech / 39 / IT
46 / -16 / Li Ping / 1,250 / -20% / XinHu / - / Real estate, finance
47 / -28 / Fan Zhaoxia / 1,240 / -34% / Jing Yun Tong / - / Solar
48 / New / Li Tan / 1,210 / New / Hepalink / 52 / Pharmaceuticals
49 / New / Zeng Baobao / 1,190 / New / Fantasia / 45 / Real estate
49 / New / Xu Yanjun & Xu Dongjing & Ma Jialin / 1,190 / New / Kangmei / 47 / Pharmaceuticals
49 / -15 / Zhang Huiming / 1,190 / -15% / Sound Environment / - / Environmental protection
49 / New / Wang Qiuyang & Zhang Baoquan / 1,190 / New / Jindian / 49 / Real estate, modern art
Source: Backes & Strauss·Hurun Richest Women in China List 2016
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