October 13 2007, Shanghai
HURUN REPORT RELEASES 9TH ANNIVERSARY EDITION OF
CHINA RICH LIST, PROUDLY PRESENTED BY ROYAL SALUTE
▪ 106 USD BILLIONAIRES MAKING CHINA HOME TO
MORE BILLIONAIRES THAN ANYWHERE OTHER THAN US
▪ 26-YEAR OLD YANG HUIYAN CHINA NUMBER ONE
WITH US$17.5 BILLION, AFTER FATHER YANG GUOQIANG TRANSFERRED SHARES TO HER
▪ TOP TWO ARE WOMEN
▪ AVERAGE WEALTH DOUBLES IN PAST YEAR
▪ LIST EXPANDED TO 800 INDIVIDUALS UP FROM 500
LAST YEAR
Breaking through the US$10 billion barrier – two women on top
26-year old Yang Huiyan catapulted to the top spot on the back of her 59.5%
share of property developer Country Gardens. Yang’s personal fortune of US$17.5
billion makes her the first of two Chinese to break through the US$10 billion
mark, and the richest women in Asia.
In second place is fifty-year-old Zhang Yin, last year’s number one, who saw the
value of her 72% holding in Nine Dragon Paper triple to US$10 billion following
a surge in its share price. The richest self-made woman in the world, Zhang
continues to widen the gap with the likes of Giuliana Benetton (co-founder of
the Benetton empire), Rosalia Mera (co-founder of Zara), Oprah Winfrey
(celebrated US television hostess), Margaret Whitman (eBay founder) and JK
Rowling (author of Harry Potter series). Zhang founded Nine Dragons in the
mid-eighties and today owns 72% of its shares together with her Taiwan-born
husband Liu Mingzhong and her brother Zhang Chengfei.
Yang Huiyan’s fortune heralds from churning out modestly priced homes
predominantly in South China and a massive land bank of forty five million
square meters. Since its listing in April, when Country Garden raised US$1.7
billion, the company's shares have risen 140 percent in value. Born into a poor
farming family, low-key Yang Guoqiang began to acquire land in the mid nineties
at the bottom of the market. Yang Huiyuan holds 59.5% of Country Garden. Her
52-year-old father Yang Guoqiang, founder and chairman, transferred his shares
to her after she completed her studies in the US.
“These success stories are encouraging a large number of young Chinese to
entrepreneurship,” says Rupert Hoogewerf, publisher of Hurun Report,
China’s leading luxury business magazine with an audited circulation of 60,000.
“China’s entrepreneurs are enjoying a surge in confidence.”
More billionaires than anywhere other than the US
Dramatically led by 106 US dollar billionaires, the ninth anniversary edition of
the Hurun Rich List shows that Mainland China now has more US dollar
billionaires than any country other than the US. Heralding a new era in the
Chinese economy, this is up from fifteen billionaires last year and none in
2002. With a cut-off of US$105 million, the list features 300 new faces to bring
the total number to 800, up from 500 last year. The average wealth has doubled
over the past year to US$562 million. The Hurun Rich List has a combined
net worth of US$457 billion.
China’s richest have reaped windfalls from a sharp hike in property prices and
the burgeoning Chinese stock markets, which have continued to rise despite the
summer’s jitters around the rest of the world.
“2007 has been China’s coming of age in terms of personal wealth creation,” says
Rupert Hoogewerf. “However, there is still plenty of growth opportunity as
China’s top entrepreneurs turn their sights to the vast undeveloped and largely
unregulated economic hinterland.”
The stories of these people tell the story of modern China
The highest new entry at number six and the youngest self-made individual on the
Hurun Rich List is 32-year old Peng Xiaofeng, founder of LDK
Solar, which listed on the NYSE this June amassing Peng a US$5.3 billion paper
fortune. LDK Solar manufactures solar wafers, the principal raw material used to
produce solar cells.
Xu Rongmao at number three has seen his wealth grow to US$7.5 billion, up
US$5.5 billion since last year. With 15% of Shanghai’s five-star hotel rooms, Xu
has been aggressively expanding his portfolio across the country and even into
Russia. Since first making the Hurun Rich List in 2001, Xu has
consistently maintained a top five ranking.
Huang Guangyu, twice previously a number one, comes in fourth with US$6
billion, on the back of a hike in GoMe’s share price and having now cashed out
close to US$1 billion in total, making him China’s cash-richest individual. His
Suning rival Zhang Jindong has seen his wealth rise more than six-fold to US$5
billion on the back of a strong performance by his Shenzhen-listed vehicle. The
electronic retailing giants both have brothers in property development on the
list, with Huang Junqing coming in at US$2.7 billion and Zhang Guiping at US$3
billion, giving the Huang brothers a combined wealth of US$8.7 billion and the
Zhang brothers US$8 billion. Huang Junqing is currently in the process of
injecting further assets into his HK-listed vehicle which – if successful –
could value him at US$15 billion.
Zhang Li, co-founder of R&F, another property developer originating in
South China, has also seen his wealth triple as R&F has built up its land bank
across the country.
Larry Rong, son of the late Chinese vice-president Rong Yiren and the
only dynastic fortune in Mainland China, at the end of last year bought a 1.1%
US$800 million stake in Anglo American, South Africa’s largest company, a
landmark deal in China’s aggressive acquisition of African resources.
Investor Guo Guangchang rejoins the top ten for the first time in four years
after raising US$1.5 billion in a Hong Kong listing in June. With investments in
steel, property, retail, pharmaceuticals and mining, Fosun is well placed to tap
the international capital markets for further investment opportunities.
Nine of the top ten richest individuals have listed companies. The largest
unlisted company is Hengda, another property developer in South China. There are
four new faces in the top ten. The average age of the top ten is 46 years.
Proudly presented by Royal Salute
"Royal Salute is proud to present the 2007 Hurun Rich List," says Terence
Ong, Brand Director of Pernod Ricard China. "As the prestigious super-premium
Scotch whisky, Royal Salute has been long recognized as the mark of respect for
exceptional achievements in any field, we believe that only by presenting the
best to the best can these Chinese entrepreneurs on the list feel our heartfelt
respect."
Some Background
The rich in China are growing much faster than their Western counterparts. The
average wealth of the Hurun 800 is now US$562 million, a 104% increase on 2006.
It takes US$105 million (up 5% due to the appreciation of the RMB) to make the
list – a far cry from our inaugural list of China’s richest people nine years
ago, when we could only rank fifty individuals with a cut-off then of US$6
million. Property development continues to be the greatest creator of private
wealth in China followed by manufacturing. It seems unthinkable that twenty
years ago land had only negligible value. Most are based in Guangdong, which
houses 139 of the 800, and another 124 live in Zhejiang.
The profile of the China’s richest is a 47-year old man from East China in
property development or manufacturing, who started his business in 1993.
Surge in confidence
With the Olympics now only a year away, there is a huge surge of confidence
exuding from China’s top entrepreneurs, whose wealth is growing much faster than
GDP. Laws put in place to protect private property and a growing sense that the
government is now relying on private enterprise to drive forward the economy has
boosted their confidence. Encouraged by fast-growing employment and increased
tax payments, local governments are strongly supporting their local success
stories. Television programmes, such as local versions of The Apprentice
or CCTV’s Business Leader of the Year, now glamorize entrepreneurship.
The economic landscape is comparable to the US in the sixties having moved on
from the robber baron period of the late nineteenth century, when vast areas of
the economy were wide open to be exploited by smart, ruthless and fast-moving
entrepreneurs.
Methodology
Valuing the wealth of China’s richest is as much an art as it is a science. Sure
we have missed some people, but we believe the Hurun Rich List is the
most serious attempt to identify China’s top entrepreneurs and to measure their
holdings. Our team of researchers has - for the ninth year running - traveled
the length and breadth of the country cross-checking information with
entrepreneurs, industry experts, journalists, bankers, and regulators, as well
as previous years’ databases. The cut-off date for valuation of listed companies
was August 31, 2007. For non-listed companies we valued by comparing them with
their listed equivalents using prevailing industry P/E ratios. This list relates
to Mainland Chinese only, defined as someone born and brought up in Mainland
China, no matter what passport they might hold today.
Appendix – Interesting facts
1. Companies that created the most individuals on the list
a) Minsheng Bank – 9 individuals led by Liu Yonghao
b) Ping’An Insurance – 7 individuals of whom little is known
c) West Mining – 7 individuals
d) Sany Heavy Industries – 6 individuals
e) Suning – 6 individuals led by Zhang Jindong
f) Country Garden – 5 individuals, led by Yang Huiyan
g) Erdos – 5 individuals led by Yang Zhicheng
h) Midea – 5 individuals led by He Xiangjian
2. Average wealth of Hurun Rich List has doubled over the past year to
US$562 million (2006: US$276 million, 2005: US$187 million).
3. Total wealth: US$457 billion.
4. Youngest on list. 67 individuals are under the age of 40 on the list, led by
Yang Huiyan. The youngest self-made entrepreneur is Xue Lixi, an investor into a
listed company.
| Age |
Name |
Wealth |
US$m Company |
| 26* |
Yang Huiyan |
17,500 |
Country Garden |
| 26* |
Li Zhaohui |
1,100 |
Haixin Group |
| 27* |
Ceng Sheng |
240 |
Honglong Holding |
| 30 |
Xue Lixi |
270 |
Fengrong Investment |
| 32 |
Peng Xiaofeng |
5,300 |
LDK Solar |
| 32 |
Wu Rongguang |
105 |
Hongxingerke Group |
| 33* |
Shi Yuewu |
310 |
Zhengxing Group |
| 33 |
Xian Yang |
1,850 |
Hidili Industry |
| 33 |
Chen Yamei |
370 |
Hengshunchang |
| 34 |
Chen Tianqiao |
1,300 |
Shanda |
| 34 |
Fang Wei |
290 |
Liaoning Fangda Group |
| 34 |
He Jilun |
130 |
TimeShare Media |
| 34 |
Jiang Nanchun |
530 |
Media |
| 34 |
Wang Weixian |
630 |
Property |
| 35 |
Chen Jianhua |
330 |
Chemical fibers for textiles |
| 35 |
Liu Yingxia |
210 |
Property |
| 35 |
Dong Defu |
160 |
Techfaith Wireless |
| 35 |
Li Shujun |
310 |
Yingli Solar |
| 35 |
Liu Yingxia |
210 |
Xiangying Group |
| 35 |
Liu Zhixiong |
310 |
3Nod Group |
| 35 |
Zhang Zhirong |
400 |
Hongyun Group |
| 35 |
Qian Yongqiang |
120 |
Liandong Weiye Technology |
| 35 |
Wang Zhongwang |
240 |
Zhongwang Group |
| 35 |
Zhang Zhidong |
500 |
Tencent |
| 35 |
Yao Juan |
1,000 |
Fuji Food |
* inherited wealth
5. Cut-off to make list this year was US$105 million. The RMB figure remained at
RMB 800 million, however with the exchange rate fluctuation in the past year,
the US$ cut-off changed by 5%.
| Year |
Cut-off US$m |
No of people on list |
| 1999 |
6 |
50 |
| 2000 |
42 |
50 |
| 2001 |
60 |
100 |
| 2002 |
84 |
100 |
| 2003 |
110 |
100 |
| 2004 |
150 |
100 |
| 2005 |
60 |
400 |
| 2006 |
100 |
500 |
| 2007 |
105 |
800 |
6. Average wealth of top fifty grew at 372%, much faster than the average wealth
of the Hurun 800, which grew at 204%. Below is a chart with the average wealth
figure of the top fifty since 1999, together with the cut-off to make the top
fifty.
| Year |
Av wealth US$m |
Cut-off US$m |
| 1999 |
NA |
6 |
| 2000 |
203 |
42 |
| 2001 |
278 |
110 |
| 2002 |
274 |
145 |
| 2003 |
326 |
180 |
| 2004 |
413 |
230 |
| 2005 |
611 |
320 |
| 2006 |
970 |
525 |
| 2007 |
3,609 |
1,600 |
7. Previous year number ones
| Year |
Name |
Wealth US$m |
| 1999 |
Rong Yiren |
1,000 |
| 2000 |
Rong Yiren |
1,900 |
| 2001 |
Liu Yongxing, Liu Yonghao & bros |
1,000 |
| 2002 |
Larry Rong Zhijian |
850 |
| 2003 |
William Ding Lei |
900 |
| 2004 |
Huang Guangyu |
1,300 |
| 2005 |
Huang Guangyu |
1,700 |
| 2006 |
Zhang Yin & family |
3,400 |
| 2007 |
Yang Huiyan |
17,500 |
8. 18 new entrants in Top 100 Peng is the highest new entry to the Rich List,
making it to the top ten, followed by Zhang Guiping. Below is a list of the
highest new entries. There were 340 new entries this year.
| Rank |
Wealth US$m |
Name |
Company |
Industry |
| 6 |
5,300 |
Peng Xiaofeng |
LDK Solar |
Solar panel components |
| 21 |
3,000 |
Zhang Guiping |
Suning Universal |
Real estate |
| 33 |
2,200 |
Kong Jianmin & family |
KWG Property |
Real estate |
| 36 |
2,000 |
Xiong Xuqiang |
Yinyi Group |
Real estate |
| 40 |
1,900 |
Ding Shizhong & family |
Anta |
Sports apparel |
| 41 |
1,850 |
Lin Li |
Liye Group |
Insurance |
| 41 |
1,850 |
Xian Yang |
Sanlian Group |
Coke |
| 44 |
1,800 |
Zhu Linyao |
Huabao |
International Fragrances & Flavouring |
| 45 |
1,700 |
Gao Yanming |
North China Shipping |
Shipping |
| 50 |
1,600 |
Chen Yihong |
China Dongxiang |
Sports apparel |
| 65 |
1,300 |
Mo Feng |
Transfield ER Group |
Shipping |
| 65 |
1,300 |
Ou Tongguo |
ITAT Textile |
retail |
| 76 |
1,200 |
Ren Yuanlin |
Yangzijiang Shipbuilding |
Shipbuilding |
| 81 |
1,050 |
Wu Yajun |
Longhu |
Real estate |
| 93 |
1,000 |
Dong Shutong |
CNR |
Holdings Steel |
| 93 |
1,000 |
Geng Jianming & Geng Jianfu |
RiseSun Holdings |
Real estate |
| 93 |
1,000 |
Guo Ziwen |
China Aoyuan Property Group |
Real estate |
| 93 |
1,000 |
Zhou Lianqi & family |
Septwolves |
Textiles |
| 107 |
950 |
Ding Shuibo |
Xtep |
Sports apparel |
| 109 |
880 |
Liu Xiaomeng |
Suning |
Electronic appliance retail, Real estate |
| 115 |
800 |
Chen Jianming |
Sansheng-Hongye Group |
Real estate |
| 115 |
800 |
Dai Weili |
Marvell |
IT |
| 115 |
800 |
Fan Wei |
Fosun |
Diversified |
| 115 |
800 |
Wang Dong |
Yangzijiang Shipbuilding |
Shipbuilding |
| 115 |
800 |
Wang Yucheng, Wang Wencheng, Wang Guocheng (brothers) |
Xingye Group |
Diversified |
| 115 |
800 |
Zhu Yuguo |
Qunxing Paper |
Paper |
| 130 |
750 |
Liu Zhiqiang & Zai Meiqing |
Heung Kong Group |
Real estate, furniture retail |
| 132 |
730 |
Zhou Guohui |
Eternal Asia |
Supply Chain Management |
| 138 |
700 |
Hu Mingcong & family |
BYE |
Cabling |
| 146 |
650 |
Huang Maoru |
Maoye Group |
Real estate, Retail |
| 146 |
650 |
Lan Shili |
East Star Group |
Real estate, airline, tourism |
| 146 |
650 |
Li Xiyan |
Mindray Medical |
Medical devices |
| 146 |
650 |
Wang Jianlin |
Wanda Group |
Real estate |
9. Fastest risers Yang Huiyan is the fastest riser on Rich List with an increase
of US$17.2 billion, followed by Zhang Yin, whose wealth increased by US$6.6
billion. Last year, there were ten individuals from Country Garden on the list,
six of whom have been replaced by Yang Huiyuan.
| Wealth increase US$ billion |
Name |
Company |
Industry |
| 17.2 |
Yang Huiyan |
Country Garden |
Real estate |
| 6.7 |
Zhang Yin & family |
Nine Dragons Paper |
Paper |
| 5.3 |
Peng Xiaofeng |
LDK Solar |
Solar panel components |
| 5.2 |
Xu Rongmao |
Shimao |
Real estate |
| 4.2 |
Zhang Jindong |
Suning |
Electronic appliance retail, Real estate |
| 4.2 |
Zhang Li |
R&F Properties |
Real estate |
| 4.0 |
Xu Jiayin |
Hengda |
Real estate |
| 3.9 |
Lu Zhiqiang |
Fanhai |
Real estate, finance |
| 3.6 |
Guo Guangchang |
Fosun |
Diversified |
| 3.4 |
Zhang Xin & Pan Shiyi |
SOHO |
China Real estate |
| 3.4 |
Rong Zhijian |
Citic Pacific |
Diversified |
| 3.3 |
Huang Guangyu |
Pengrun Investments |
Electronic appliance retail, Real estate |
| 3.1 |
Zhang Guiping |
Suning Universal |
Real estate |
| 3.0 |
Shi Yuzhu |
Giant Investments |
Online games, Pharmaceuticals, finance |
| 3.0 |
Liu Yonghao & family |
New Hope Group |
Finance, Pig feed, Real estate, Dairy |
10. Industries listed by entrepreneurs as one of their key industries: Property
is still king with 24% of entrepreneurs listing it as one of their key
industries, followed by manufacturing. The percentage of property tycoons has
been diminishing from 26% last year and 45% in 2004. The fastest growing sectors
are apparels, mining, services, chemicals,
| Industry |
# of indiv |
% |
| Property |
220 |
24% |
| Manufacturing |
205 |
22% |
| IT |
73 |
8% |
| Healthcare |
55 |
6% |
| Finance |
47 |
5% |
| Services |
44 |
5% |
| Iron&steel |
41 |
4% |
| Retail |
38 |
4% |
| Food&drinks |
36 |
4% |
| Energy |
36 |
4% |
| Apparels |
33 |
4% |
| Mining |
31 |
3% |
| Chemicals |
22 |
2% |
| Civil infrastructure |
14 |
2% |
| Agriculture |
12 |
1% |
| Oil and gas |
9 |
1% |
| Media |
6 |
1% |
Environmental 5 1%
11. Politics: On the Hurun Rich List, there are 38 delegates to the
National People’s Congress and 41 to the China People’s Political Consultative
Congress (CPPCC). One third estimated to be CCP members.
12. Women: 65 individuals on Hurun 800 led by Yang Huiyan and Zhang Yin at
numbers 1 and 2 respectively. This represents 8% of the total.
13. Self-made women. Led by Zhang Yin, the other top women include Beijing
property developers Zhang Xin (US$3.6 billion) and Chen Lihua (US$2.7 billion),
flavors and fragrances manufacturer Zhu Linyao (US$1.8 billion) and steel
investor Diana Chen Ningning (US$1.3 billion). The role of women in China has
undergone dramatic changes over the last century. Since winning equal status in
the eyes of the law after 1949, women have begun to play a more active role in
Chinese society, but it was not until the beginning of the economic reforms of
1978 that women really began to make their mark in business.
14. Average age: 47.3 years, down slightly from 47.7 years in 2006.
Significant impact on education from ten year Cultural Revolution (1966-76),
when they were on average 8 to 18 years old.
15. The oldest member of the list is Hou Lizun, who is 84 years old and worth
US$130 million.
16. Cashing out: Huang Guangyu has pocketed US$1.2 billion from injecting
privately-owned outlets into his HK-listed vehicle. Second is Rong Zhijian, who
has taken away dividends from Citic Pacific of US$700m over the past decade,
which he has been investing aggressively. Others that have cashed out big-time
include Zhou Qingzhi, who sold his property holdings to Vanke for US$400
million, Liang Liangsheng who just announced the sale of 85% of his cosmetics
group for US$400m, Wang Shusheng who sold his remaining 50% share in Datian to
Fedex for just under US$400 million and Du Sha, who sold his Home World Group
grocery retailer for around US$400 million.
17. Head office locations: Guangdong (139 entrepreneurs), Zhejiang (124),
Beijing (87), Jiangsu (81), Shanghai (76), Fujian (47), Shandong 35, Sichuan
(24), Liaoning (21).
18. Average time to make the rich list is fourteen years from starting-up the
company, meaning they set up their business in 1993.
19. Birthplaces: Zhejiang (115 entrepreneurs), Guangdong (72), Jiangsu (70),
Fujian (45), Shandong (27), Shanghai (27), Sichuan (22), Beijing (19), Hebei
(19), Liaoning (18), Shanxi (18)
20. 28% relocated since birth (birthplace and company head office are
different).
21. Preferred international holiday destinations: 1. Australia, 2. France, 3.
US Mainland, 4. Hawaii, 5. Germany, 6. Japan, 7. Italy, 8. UK, 9. Canada, 10.
Singapore, 11. S Korea, 12. Thailand, 13. Maldives, 14. New Zealand (source:
Hurun 2007 Best of the Best Awards)
22. Preferred domestic holiday destinations: 1. Sanya, 2. Yunnan, 3. Hong
Kong, 4. Hangzhou, 5. Beijing, 6. Qingdao (source: Hurun 2007 Best of the Best
Awards)
23. Preferred luxury brands: 1. BMW, 2. Louis Vuitton, 3. Mercedes Benz, 4.
Rolex, 5. Giorgio Armani, 6. Ferrari, 7. Rolls-Royce, 8. Bentley, 9. Cartier,
10. Vacheron Constantin (source: Hurun 2007 Best of the Best Awards)
24. Social responsibility
With the seventeenth party congress due to kick off next week, entrepreneurs are
keenly aware of the growing rich poor divide and are turning their attention to
being seen as socially responsible. They are beginning to give generously, with
85-year old Yu Pengnian, for example, having donated US$260 million, the bulk of
his wealth, to a fund delivering cataract operations.
2007 Hurun Philanthropy List Top Ten, released April
2007
| Rank |
Name |
Donations US$m* |
Causes |
Company |
| 1 |
Yu Pengnian |
260 |
Cataract operations |
Panglin |
| 2 |
Zhu Mengyi |
140 |
Education, health |
Hopson Development |
| 3 |
Niu Gensheng |
85 |
Social welfare |
Mengniu |
| 4 |
Huang Rulun |
83 |
Education, poverty, health |
Jinyuan |
| 5 |
Yang Lan & Bruno Wu |
72 |
Education, culture |
SunMedia Investments |
| 6 |
Chen Dexun |
46 |
Sports |
Mod-Log Industries |
| 7 |
Li Shufu |
36 |
Education, social welfare |
Geely |
| 8 |
Duan Yongping |
33 |
Education, disaster relief |
Bubugao |
| 9 |
Huang Nubo |
24 |
Sports, social welfare |
Zhongkun |
| 10 |
Yang Xiu |
17 |
Education, social welfare |
Tiandi |
* Cash and cash equivalents donated between 2003 and 2007
25. Collecting art Yang Xiu has spent over US$100 million on his art collection.
Chen Lihua has a sandalwood museum.
26. In Jail Two people on the list are in jail: Wu-Mart founder Zhang
Wenzhong and Chuangwei founder Huang Hongsheng.
27. People that probably should be on the list, but about whom there is not
enough publicly-available information, include
▪ Zhang Ruimin, founder of Haier
▪ Wu Guodi, founder of Alison
Petrochemicals
▪ Zhuo Ma, wife of Yuan Baojing, the
entrepreneur executed in 2006 for murder
▪ Yang Guoping, founder of Shanghai-based
Dazhong
▪ Yu Guoqiang, who came to prominence
after buying the Hilton Shanghai. However, Yu has been under house arrest for
the past year following the Chen Liangyu affair. We are unclear as to the
conclusion of this case, so have conservatively kept Yu off the list.
▪ Deng Wendi, the China-born wife of
Rupert Murdoch
▪ Peter Ma Mingzhi, founder of Ping'An, a financial services co with more a market cap of US$126 billion. A one percent holding would already make Ma a billionaire.
28. Impact of capital markets Hong Kong’s capital markets dominate the
fortunes of China’s richest with seven of the top ten having their main business
listed there.
29. Largest companies by market cap
| Rank |
Company |
Market Cap US$ billion |
| 1 |
Ping'An |
126 |
| 2 |
Minsheng Bank |
31 |
| 3 |
Country Garden |
28 |
| 4 |
R&F Properties |
15 |
| 5 |
Citic Pacific |
14 |
| 6 |
Suning |
13 |
| 7 |
Nine Dragon |
13 |
| 8 |
Tencent |
11 |
| 9 |
Fosun |
11 |
| 10* |
Huawei |
11 |
* Company not listed. Market Cap estimated by comparing with their listed
equivalents using prevailing industry P/E ratios.
30. Power List, a ranking of the ten most powerful people from the Hurun Rich
List. Released on Oct 8, the fifth Hurun Power List is a ranking of the ten
most powerful people from the Hurun Rich List. Top for the fifth year
running is Rong Zhijian. The Power List reflects the growing impact the private
sector is having on China’s economic development, measured by their political,
economic (taxes paid, employees, sales), social and international impact. New to
this year’s list are Zhang Yin, Zhang Jindong and Yang Guoqiang switching places
with Shen Wenrong, Huang Guangyu and Zong Qinghou.
Hurun Rich List series
The 2007 Hurun Rich List series includes
1. Industry lists: Pharmaceuticals, Property, Energy, IT, Financial Services,
Retail, Steel. These shall be released over the course of the next fortnight.
2. Friday, Oct 13 – Richest Women in China
Royal Salute Backgrounder
As the leading super-premium Scotch whisky in China, Royal Salute 21 year old
was specially created in 1953 to celebrate the coronation of Queen Elizabeth II
of Britain. It derives its name from an ancient tradition - the Royal Navy fires
a 21 gun salute at the ceremony as a show of the highest respect to the
head-of-state. The most precious malt and grain whiskies selected from
Scotland’s highlands are meticulously blended to produce this sumptuous whisky,
which is then filled in selected casks to mature for at least 21 years. The
result is Royal Salute’s rich flavor and special smoothness, earning praise and
admiration worldwide.
Royal Salute is not only full and sumptuous on the inside, but also boasts a
luxurious exterior. Its signature porcelain flagons are a tribute to traditional
nineteenth-century whisky flagons. Each flagon is emblazoned with the
traditional Scottish emblem “A Promise Made in 1801”, quietly yet firmly
asserting its illustrious history and exquisite quality. Even more striking are
the flagon’s colors of burgundy, blue, and green, chosen to reflect the jewels
in the Coronation crown. The flagon is wrapped into an exceptional piece of swan
fur, the final touch to Royal Salute’s regal elegance.
In 2002 Royal Salute itself received the ultimate accolade from the Scotch
whisky industry when it was awarded the Trophy for Best Blended Scotch Whisky,
the most prestigious of prizes, at both the International Spirits Challenge and
the International Wine and Spirit Competition. Recently it has added two further
jewels to its crown as a leader in the super-premium category, winning a gold
medal at the International Spirits Challenge 2005 and being voted ‘Best of the
Best’ Scotch Blended Whisky at the esteemed Best of the Best Whisky Awards.
Royal Salute 21 year old represents superior success, unrivalled class and
sophistication, and the ultimate in quality and refinement. It is a unique
whisky and a genuine international luxury brand.
Click here to learn more on 2007 Hurun Rich List
