Real estate developers dominate the list of China’s richest people, and Xu Jiayin’s wealth surpasses that of Pony Ma and Ma Yun
In recent years, China’s Internet companies have grown rapidly and have become world giants in one fell swoop. Whether it is Alibaba or Tencent, they have attracted global attention. In the past, Ma Yun and Pony Ma also came and went, and the top spot of China’s richest man took turns, which can also see the powerful power of the new economy. However, since the beginning of this year, the situation has changed. With the soaring housing prices in China, the performance of real estate giants has also risen with the tide. Leading companies in the real estate industry such as Evergrande, Country Garden, and Vanke have become the biggest winners of this "destocking" and made a lot of money.
Ma Yun
A few days ago, the 2017 Hurun Rich List released, China’s richest man by Hengda Xu Jiayin won, wealth is 290 billion yuan, leading in the second place Ma Yun 40 billion yuan; Ma Ma’s wealth is 250 billion yuan, mainly benefited from Tencent’s stock price rose; Ma Yun to 200 billion yuan worth third, Wang Jianlin is ranked fifth.
Similarly, China’s richest woman also comes from the real estate sector. She is Yang Huiyan of Country Garden. In the past year, her wealth has increased by more than 100 billion yuan, and her worth has reached 160 billion yuan. In the list of Chinese women’s wealth, she has ridden the dust and left others far behind. In terms of value, Yang Huiyan is second only to Jack Ma, ahead of Wang Jianlin, and ranks fourth on China’s rich list, up 18 places from last year. Yang Huiyan is also the only woman on the list of the top 10 richest people in China.
Hurun richest list top 10
China’s real estate is entering the era of oligarchs, and the performance of large real estate companies is soaring. In the first half of 2017, Evergrande’s contract sales reached 244.10 billion yuan, an increase of 72.2% year-on-year; the turnover was 188 billion yuan, an increase of 114.8% year-on-year; and the net profit was 23.10 billion yuan, an increase of 224% year-on-year. The surge in performance has made Evergrande’s share price soar by 500% this year, and Xu Jiayin, who holds 74.2% of the shares, is worthy of becoming China’s richest man. Last year, Xu Jiayin’s wealth was only 78 billion yuan, ranking tenth.
Xu Jiayin
Country Garden’s performance is also growing at a high speed, helping Yang Huiyan to have no rival in the female rich list. Zhou Qunfei and his wife, the founder of Lansi Technology, who once topped the list of China’s richest women, have a wealth of 71.50 billion yuan, ranking 20th in China’s richest list, a big gap with Yang Huiyan.
But the dominance of real estate in China’s economy is not a blessing. With the domestic economy slowing, skyrocketing housing prices have forced most homebuyers to put up three generations of savings for a down payment. The skyrocketing housing prices have pushed up a series of costs, making it difficult for small and medium-sized enterprises.
Real estate cannot become the core competence of a country. Too much reliance on real estate will inevitably squeeze the economy and suppress consumption. Today, families who want to buy a house have to tighten their belts and save money to buy a house, and even then they have to bear the mortgage for decades. Today, whether it is friends or colleagues, sitting together, they can’t help but talk about houses, and real estate has even become the dividing standard of social hierarchy, which is unfair.
Pony Ma
Rather than real estate dominating the Chinese economy, we would rather see a situation where a hundred flowers bloom, technology companies grow rapidly, and the real economy is booming and full of vitality. In this way, our economy is healthy, and we will not be kidnapped by real estate and lose everything. Wealth accumulated by real estate is on top of the hardships of building ordinary families. Ma Yun once said, "If Wang Jianlin wins, then the whole society loses." Today, although Wang Jianlin has dropped out of the list of the richest people, the richest people still belong to real estate developers. Three of the top five richest people in China are real estate developers. Text/Xu Shangfeng
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