Guangzhou tops China’s unicorn newcomers – Rupert Hoogewerf

 

Rupert Hoogewerf

Guangzhou added in the first six months of 2022 nine new global unicorns, a privately held startup company valued at over US$1 billion – taking its total to 19, according to a new list from the Hurun List, writes the China Daily. “These unicorns are leading a new generation of disruptive technology,” says Rupert Hoogewerf, chief researcher of the Hurun Report.

 

China Daily:

“These unicorns are leading a new generation of disruptive technology. With fintech, e-commerce, business management solutions, health tech and AI, industries are now attracting the world’s top young talent and smart capital,” said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report.

Hurun has been tracking global unicorns since 2017. The index ranking the world’s startups was introduced in the 2000s. It is worth at least $1 billion but not yet listed on a public exchange.

The world’s unicorns came from 48 countries and regions, with the United States leading with 625 companies, followed by China with 312 in the first half of this year, the report said.

Beijing-based Douyin, with 1.2 billion monthly active users for its flagship TikTok, is the world’s most valuable unicorn for the second year running.

The half-year index was released on the occasion of the Global Unicorn CEO Conference, which was also held in Guangzhou on Tuesday. It invited the world’s unicorns, investors and advisers to discuss innovation and entrepreneurship, new technologies and business models.

“Unicorns are a benchmark of a world-class startup ecosystem. The more unicorns a country has, the better the startup ecosystem,” Hoogewerf said.

There has been a massive surge in unicorns since the onset of the COVID-19 pandemic, with 369 new unicorns being found in the first six months of 2022 — or two a day — according to Hoogewerf.

“The 1,200 new unicorns minted in the last two years are disrupting financial services, business management solutions, healthcare and retail,” he said.

More at the China Daily.

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How the metaverse will change the industry – Rupert Hoogewerf

 

Rupert Hoogewerf

The metaverse will change the industry dramatically, says Rupert Hoogewerf, chief researcher at the Hurun Rich List. Earlier he released a China company list with the highest metaverse potential. He now zooms into the Guangzhou Metaverse Innovation Alliance, writes the China Daily.

The China Daily:

“The cutting-edge field of the metaverse is the next important development direction for the internet industry, which will profoundly change production and lifestyle in the future, and promote future industrial development,” said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report.

The Guangzhou Metaverse Innovation Alliance, which was inaugurated in Nansha in March, is expected to help inject new vitality into Guangzhou’s construction of a global digital economy benchmark and an international consumer-oriented city, according to Hoogewerf.

“With the release of the list of metaverse companies with the greatest potential, it is expected that more businesses in the metaverse industry will move to the district and develop there,” he said.

Nansha has developed a good business environment for metaverse-related companies since it enacted competitive policies to support the industry, according to Hoogewerf.

“From technology research and development, industrial agglomeration and application scenarios to financial support, special policies from the local government will help build Nansha into a prominent location for the innovation and development of the metaverse industry,” he said.

Although many companies, including some of China’s largest by market capacity, have not had a specific team dedicated to the metaverse industry, they have already applied relevant technologies in some particular fields, according to Hoogewerf.

“Media and entertainment companies are at the forefront of the metaverse, using existing technologies to explore the application possibilities of the industry,” he said.

More at the China Daily.

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China company list with highest metaverse potential – Rupert Hoogewerf

 

Rupert Hoogewerf

The Hurun research institute released on Tuesday the top-200 list of companies with the highest meta verse potential, says its chief researcher Rupert Hoogewerf in the Panda Daily. ” This world is a digital living space with a new social system,” Hoogewerf says.

The Panda Daily:

Hurun Report Chairman and Chief Researcher Rupert Hoogewerf spoke about the list of companies: “This year is the first year of the metaverse. It has only been in the last year that the mainstream has started to concentrate on it, triggered in part last October when Facebook changed its name to Meta. Our metaverse list today is designed to help identify which companies in China have the most potential in the metaverse.”

He added, “At present, the definition of metaverse that we agree with is: a virtual world that is linked and created by means of science and technology and mapped and interacted with the real world. This world is a digital living space with a new social system. Of course, it will take some time for the arrival of the metaverse era, and it is inseparable from Web3.”

More in the Panda Daily.

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Why Guangzhou has most women billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

Compared to the rest of the world, China has the most female billionaires, while Guangzhou tops the list. Rupert Hoogewerf, the Hurun Rich list chief researcher, explains why China and especially Guangzhou is doing better than other countries in Money Control. 

Money Control:

Guangdong in South China is the cradle of the world when it comes to self-made women billionaires, the report added.

Interestingly, New York, the city with the most billionaires outside of China, has only a single self-made woman billionaire.

Rupert Hoogewerf, chairman and chief researcher of Hurun Report explains why the numbers are so high in China as compared to other countries.

“The self-made women billionaires in the world tell the story of the most successful women in business and these stories start with China. Why does China have two thirds of the world’s self-made women billionaires, more than double the rest of the world combined? There are historical, political, social and economic dynamics at play here,” he explained.

Japan, Germany, France, Canada and South Korea are the world’s largest economies without a single self-made woman billionaire. The 124 known self-made women billionaires come from just 16 countries, meaning that 180 countries still do not have a single one.

The Hurun Research Institute released the richest self-made women in the world on Wednesday. Topping that list from China is Beijing-based property developer Wu Yajun. The 58-year-old has an estimated worth of $17 billion. Yajun and her ex-husband Cai Kui cofounded Longfor in 1993 cofounder.

More in Money Control.

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How Shenzhen overtook New York in number of billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

More Chinese cities overtake New York in their number of resident billionaires, Shenzhen being the latest, says Rupert Hoogewerf, chairman and chief researcher of the Hurun global rich list to NBC. “It is a significant indicator of where Shenzhen has come from and where it is going,” he said.

NBC:

According to the Hurun Global Rich List, an annual ranking compiled by a private Shanghai-based company, Beijing is home to the world’s greatest number of billionaires at 144, followed by Shanghai with 121. There are 113 billionaires in Shenzhen, compared with 110 in New York, while London came in fifth with 101.

The growing concentration of wealth isn’t news to people in Shenzhen, which added eight billionaires since last year.

“It’s almost more of a wake-up call for the rest of the world,” said Rupert Hoogewerf, chairman and chief researcher of Hurun Report, the company behind the list.

While rankings can fluctuate, he said the rising number of billionaires in Shenzhen reflected a “megatrend” that will draw more young entrepreneurs to the city in coming years.

“It is a significant indicator of where Shenzhen has come from and where it is going,” he said.

Shenzhen’s rise began in 1980, when it was named China’s first special economic zone as part of the country’s “reform and opening up” under then-leader Deng Xiaoping. That allowed the city to experiment with market capitalism in an effort to attract foreign investment. From 1979 to 2021, Shenzhen’s gross domestic product grew from less than $28 million to almost $475 billion.

Today, the city is home to some of China’s biggest tech companies, including telecom giant Huawei and the internet conglomerate Tencent, inspiring others to follow. Last year, 2,500 new state-recognized high-tech companies were set up in Shenzhen, bringing the total number to 17,000, according to the local government.

More at NBC.

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Why self-made women billionaires galore in China – Rupert Hoogewerf

 

Rupert Hoogewerf

The number of self-made women billionaires has increased, especially in China, says Rupert Hoogewerf, chief researcher of the Hurun Report, who released earlier in March the 2022 Rich List, according to Money Control. “There are historical, political, social, and economic dynamics at play here,” he says.

Money Control:

Meanwhile, commenting on the report, Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said, “There are 124 self-made women billionaires in the world today, double that of five years ago and 100 more than ten years ago.”

Speaking about the the most successful women entrepreneurs in China, he added, “The self-made women billionaires in the world tell the story of the most successful women in business and these stories start with China. Why does China have two thirds of the world’s self-made women billionaires, more than double the rest of the world combined?”

“There are historical, political, social and economic dynamics at play here. One indicator can be seen from the Hurun China Private Companies SDG Readiness Index 2021, where Chinese businesses performed strongly in United Nations Sustainable Development Goal 5 Gender Equality.”

More in Money Control.

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How China’s rich saw their capital shrink – Rupert Hoogewerf

 

China’s rich have become one of the major casualties at the 2022 Hurun Rich List, including Tencent’s CEO Ma Huateng, who lost 52 billion US dollars from last year’s listing, although China’s billionaires still top the list. Hurun chief researcher Rupert Hoogewerf gives an overview of the damage to the VOA.

VOA:

According to the 2022 list, which Hurun released last week, the tech billionaires in China who were hit hard last year included Ma Huateng, founder and CEO of China’s internet conglomerate Tencent. Ma saw his wealth drop to $52 billion, as he slumped to the slot of the fourth-richest billionaire in China and a ranking of number 28 globally. Jack Ma ranked fifth among Chinese billionaires. This was the first time that the two entrepreneurs had not been in China’s top three slots since 2015.

And China shed 160 billionaires in 2021, accounting for half the world’s total of 337 list laggards who are now mere multimillionaires.

“China’s billionaires have been hit hard in the past year, with nine of the top 10 biggest wealth shrinkages and 160 drop-offs,” said Rupert Hoogewerf, Hurun Report chairman and chief researcher. He added that many of China’s biggest companies have lost as much as half their value, the steepest drop in value since the global financial crisis in 2008.

Hoogewerf said that e-commerce platforms, real estate, education, generic drugs and vaping were the hardest-hit sectors. COVID control measures, tensions with the United States, anti-monopoly regulations and China’s recently introduced push for common prosperity were behind the declines, he added.

More at the VOA.

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China keeps top position at 2022 Hurun rich list – Rupert Hoogewerf

 

Rupert Hoogewerf

China added last year 75 billionaires in US dollar terms, the 2022 Hurun rich list noted this week, according to the Global Times. “China now has more than 1,100 billion-dollar entrepreneurs, 60 percent more than the US, which also exceeds the combined number of the US, India and the UK,” Rupert Hoogewerf of the Hurun Research Institute said.

 

Global Times:

China kept its top ranking on the Hurun Global Rich List 2022 with 1,133 billion-dollar entrepreneurs, an increase of 75 from last year, followed by the US and India, according to the list released by the Hurun Research Institute on Thursday.

The list underlined robust growth in various industries in China, including technology, consumer market and advanced manufacturing, despite a complex global environment and growing downward pressure on the domestic economy, experts said.  …

Rupert Hoogewerf, the founder and chief researcher of the institute, whose Chinese name is Hu Run, said that since 2016, when China first surpassed the US, the number of billionaire entrepreneurs in the US has increased more than 30 percent, while that of China doubled.

Hu noted that China now has more than 1,100 billion-dollar entrepreneurs, 60 percent more than the US, which also exceeds the combined number of the US, India and the UK.

Zhong Shanshan is still China’s richest man, although his wealth has dropped by nearly 100 billion yuan. The ranking of ByteDance founder Zhang Yiming rose to second place in China from fifth last year, with his wealth remained unchanged at 340 billion yuan.

The wealth of CATL founder Zeng Yuqun reached 335 billion yuan, growing more than 100 billion yuan, making him the third-richest entrepreneur of the country.

Pony Ma Huateng, founder and CEO of Tencent, who ranked second last year, saw his wealth drop to 330 billion yuan, coming in fourth this year in China, while Alibaba founder Jack Ma Yun ranked fifth with his wealth standing at 235 billion yuan. This year’s list marks the first time that the two high-profile commercial entrepreneurs have fallen out of the top three in China since 2015.

More at the Global Times.

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US and China continue to dominate Hurun global unicorns 2021 – Rupert Hoogewerf

 

Rupert Hoogewerf

The US and China continue to lead the Hurun global unicorn list for 2021, says chief researcher of the report, Rupert Hoogewerf, although China is slightly behind the US, according to the Free Malaysia Today. “With its flagship TikTok closing in on 3 billion daily users, [ByteDance] has now grown to become a serious challenger to Facebook,” the report said.

The Free Malaysia Today:

China fell further behind the US in the number of startups valued at more than US$1 billion, according to a report published today by China-based researchers. However, the two countries continue to dominate the worldwide list of “unicorns”, as the highly valued unlisted companies are called.

The Global Unicorn Index 2021, compiled by Shanghai’s Hurun Research Institute, showed that Chinese unicorns accounted for 301, or 28%, of 1,058 unicorns worldwide, as of the end of November.

In all, 42 countries had at least one unicorn. Collectively, the companies were worth US$3.7 trillion.

Some 74 new Chinese unicorns were added to the list, compared with 254 in the US, which had 487, or 46%, of the global total. Despite the slower growth in China, the two countries together accounted for nearly three-quarters of the world’s unicorns.

India, which added 33 companies to the list, for a total of 54, ranked third.

“The US and China continue to dominate, with three-quarters of the world’s known unicorns, despite representing only a quarter of the world’s population,” said Rupert Hoogewerf, chairman and chief researcher for the report.

But Hoogewerf added: “The rest of the world is playing catch-up, growing their share of the world’s unicorns from 17% two years ago to 26% this year.”

ByteDance, the parent of video app developer TikTok and Chinese sister app Douyin, was the most valuable unicorn on the list, with its valuation surging to US$350 billion, up from US$270 billion at the end of March last year.

“With its flagship TikTok closing in on 3 billion daily users, [ByteDance] has now grown to become a serious challenger to Facebook,” the report said.

Valued at US$150 billion, online financial service provider Ant Group fell to second place after Chinese regulators blocked its listing last year and ordered a revamp of its payment and lending businesses. The moves were part of Beijing’s antimonopoly investigation into parent company Alibaba Group Holding…

Hurun called 2021 the most successful year for startups, backed by the presence of an entrepreneurship ecosystem comprising affluent business people, world-class universities and, more importantly, venture capitalists.

“The role of investors is evolving to mentorship and scale-up opportunities, rather than just providers of cash,” said Hoogewerf. “The world’s leading unicorn investors are building ecosystems with their portfolio, [which is] hugely attractive to the world’s fastest-growing startups.”

Sequoia led the ranks of US investors, which also included Tiger Fund, Accel and Goldman Sachs. All of these more than doubled their investments in the 2021 unicorn list compared with last year.

SoftBank of Japan, Tencent of China and Temasek Holdings of Singapore were among active Asian investors.

The unicorn list also saw 201 companies removed from the ranking: Of those, 137 went public, 25 were acquired and 39 saw their valuations fell below US$1 billion. Some of the biggest decliners in value included Katerra, a US construction company, and Ucar, a Chinese ride-sharing company.

“For every successful unicorn you see, there are thousands of failed companies, as well as a new generation of future unicorns coming through,” said Hoogewerf.

More at the Free Malaysia Today.

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China artists move up in global ranking – Rupert Hoogewerf

 

Rupert Hoogewerf

COVID-19 did put pressure on the global turnover of public auctions of artworks, but their value has gone up, says Hurun chairman Rupert Hoogewerf at Shine. Artists from China have been moving up in the ranking, in line with China’s economy, he adds.

Shine:

As a benchmark for collectors or potential collectors, many eyes are focusing on the results of the SICA-Hurun Global Art List 2021 – a ranking of the top 50 living artists in the world based on sales of their works at public auctions last year.

This is the second year the Hurun Global Art List is released by the Shanghai International Commodity Company and Hurun Research Institute.

Artprice.com, a leading art market information platform, provided the art auction data for foreign artists, while data about Chinese artists came from the CAFA National Institute of Art and Cultural Policy.

“COVID-19 has had a big impact on the art market, with the works of the Hurun Top 50 living global artists only selling US$1.4 billion at public auction last year, down 24 percent. However, this does not necessarily mean the value of artworks decreased. It may be because good works were not put up for auction by collectors last year,” said Rupert Hoogewerf, Hurun Chairman and Chief Researcher.

British artist David Hockney, 84, topped the list for the second year in a row, with sales bringing in US$132 million.

Hockney, a painter, printmaker, stage designer and photographer, is considered one of the most influential British artists of the 20th century.

Beijing-based Chinese painter Cui Ruzhuo, 77, shot up eight places on the list to second, with sales of his works more than doubling to US$113.1 million.

A student of Li Kuchan (1899-1983), one of the Chinese painters known for combining Western techniques with traditional Chinese styles, Cui left Beijing for the United States in 1981, but soon ran out of money in his rented basement.

Fortunately, he sold a painting for US$400,000 four months after arriving in the US, and the buyer introduced him to wealthy collectors and important people in art circles.

He started to prosper, so much so that he began collecting, and today his collection contains an album of paintings created by Shi Tao from the Qing Dynasty (1644-1911).

The 89-year-old German artist Gerhard Richter, ranked third, with US$102.4 million in sales, down one place from last year.

In terms of countries, the US had the most artists on the list, followed by China, the United Kingdom and Japan. Curiously, traditional art powerhouses like France had only one artist on the list, while Italy had none.

One reason might be that “the world’s leading art auction houses are based in New York, London, Hong Kong and Beijing,” said Hoogewerf.

Twelve Chinese artists made the list, one more than last year, including four new names. Beijing-based Zeng Fanzhi, 57, broke into the top 10, moving up 24 places.

“The achievements of Chinese contemporary artists in the secondary market cannot be separated from the development of the Chinese economy and the strong community of Chinese collectors,” Hoogerwerf said. “Influenced by China’s profound cultural tradition, Chinese contemporary artists have experienced social changes, the development of globalization and frequent international exchanges.”

More in Shine.

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New energy tops China 2021 rich list – Rupert Hoogewerf

 

Rupert Hoogewerf

Most rich in China are self-made, first in agriculture, then real estate, and the past five years in new energy, says Hurun chairman Rupert Hoogewerf at the release of the 2021 Hurun China rich list. Compared to Hong Kong and Taiwan, mainland rich seldom inherited their wealth, he added.

Rupert Hoogewerf:

“A boom in new energy entrepreneurs, sparked by carbon reduction targets, as well as a spate of new listings of tech-related companies drove this year’s Hurun China Rich List to records heights, adding more than 20%, both in terms of number of individuals and also total wealth. Another factor was adding in entrepreneurs from HK, Macao and Taiwan for the first time, however, with only 200, this was not a significant factor.”

“100 times in 20 years. Twenty years ago, we could only find 19 individuals with US$300mn, but over the last 20 years, this has grown over 100x to almost 3,000, showing the growth of the Chinese economy. Based on this trajectory, expect the Hurun China Rich List to grow to as many as 5,000 within ten years. At the billionaire level, it is a similar story: Back in 1999, there were none, with the first wave of 100 coming through in 2007, before breaking through the 500-mark in 2015 and since Covid, almost doubling to 1185 known billionaires today, 50% more than the US, which has just under 700 known billionaires. At this rate, expect China to have 2,000 known billionaires by 2030.”

“Half of this year’s list are new faces compared with five years ago, showing the dynamism of China’s private sector. New sectors and business models are changing the landscape of the list. 20 years ago the top 10 was led by agriculture, then 10 years ago it was real estate. Five years ago it was the second wave of internet platforms, whilst today it is new energy.”

“Zhang Yiming of ByteDance at 38 becomes only the fifth person since our first rich list in 1999 to make the Top 3 whilst still in his thirties, the others being Ding Lei of Netease, Chen Tianqiao of Shanda, Huang Guangyu of Gome and Yang Bing of Euro Asia. Keep watching. Zhang Yiming is a likely candidate to become the next Number One in China, especially if he gets to list ByteDance.”

“From the Hurun China Rich List, we can see which industries and business models are on the up and which are on the way down. New energy has had an amazing year, whilst real estate, home tutoring services, pork production and video gaming have had a bad year. Embattled Xu Jiayin of Evergrande was down US$25bn to leave him with just over US$10bn. In home tutoring, Tom Zhang Bangxin of TAL Education lost US$14bn to leave him with less than a billion, whilst Chen Xiangdong of Genshuixue lost US$12.5bn, dropping him off the list. Pork producers Liu Yonghao and Qin Yinglin were down US$8bn and US$5bn. Video gaming leader Pony Ma of Tencent was down US$10bn.”

“The average ‘Hurun Rich Lister’ was born in 1965, started his business in 1994 at the age of 29, broke into the list in 2012 at the age of 47, and is now 56 years old with US$1.9bn.”

“Succession is a hot topic in China. US$1.5tn of wealth is likely to pass down from the first generation entrepreneurs on the list to the nextgen over the next 20 years. The Lee Kum Kee family is the only 100-yr old family dynasty on the list.”

Only 4% or 122 individuals inherited their wealth. 60% are from Taiwan and Hong Kong, with 41 from Taiwan and 28 from Hong Kong, followed by 9 from Guangdong, 8 from Zhejiang and 7 from Shanghai. “96% of the Hurun China Rich List is first generation self-made wealth,” Hoogewerf said.

More at the Hurun website.

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China women lead in global entrepreneurship – Rupert Hoogewerf

 

Rupert Hoogewerf

Two-thirds of the world’s richest women come from China, says the latest Hurun Rich List report. “If we want to understand the global women entrepreneurship, we have to start from China. China has been home to more than two-thirds of the world’s most successful women entrepreneurs in the past decade,” said Rupert Hoogewerf, chairman and chief research officer of Hurun Global Rich List in the state-owned Global Times.

The Global Times:

China is home to two thirds of the most successful women entrepreneurs in the world, three times the number of the US, a Hurun report showed.
The Hurun Research Institute released the Hurun Richest Self-Made Women in the World 2021 on Wednesday, a list of self-made women billionaires across the world. This is the 11th year the list has been published.
The list showed that the number of self-made women entrepreneurs with 1 billion dollar asset threshold grew by 30 percent in 2020, to reach a record of 130 people.
Chinese women take the lead on the list, as 85 of them are from China, 24 more from last survey. The US ranked second with 25 people and the UK ranked third with 6.
Also, China takes nine of the top 10 this year and accounts for nearly 80 percent of the new faces on the list this year.
“If we want to understand the global women entrepreneurship, we have to start from China. China has been home to more than two-thirds of the world’s most successful women entrepreneurs in the past decade,” said Rupert Hoogewerf, chairman and chief research officer of Hurun Global Rich List.
Zhong Huijuan, 60, of Hansen Pharmaceutical, in East China’s Jiangsu Province, has become the world’s most successful female entrepreneur for the second year in a row with a wealth of 150 billion yuan ($23.34 billion).
Narrowing it down, Beijing city is the hub for “the most successful women entrepreneurs in the world”, with 16 rich women, followed by Shanghai, Hangzhou and Shenzhen.

More at the Global Times.

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China dominates top women billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

Most female billionaires call China their home country, says Rupert Hoogewerf, chief researcher of the Hurun Research Institute, according to the Korea Times. China’s 85 female billionaires amount to two-thirds of the 130 women billionaires in the world.

Korea Times:

China is home to the most self-made women entrepreneurs in the world, according to a new report.

The country minted 24 new female billionaires to start 2021, bringing the total number to 85, said Hurun Research Institute.

China’s 85 female billionaires amount to two-thirds of the 130 women billionaires in the world.

While the number of women billionaires grew 30 per cent from last year, the 3,098 male billionaires dwarf the 130 self-made women billionaires.

Rupert Hoogewerf, the chairman and chief researcher at Hurun, told the?South China Morning Post?that the rest of the world needs to “wake up” to the dominance of Chinese women entrepreneurs. Chinese women make up 70 per cent of the world’s most successful women entrepreneurs.

People need to study China and see “what’s hampering women elsewhere to build businesses of that size,” he added.

Hurun Research Institute found nine out of the top ten self-made women billionaires are from China and eight out of ten new faces are from China.

More at the Korea Times, including the top-3 richest women in China.

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How China overtook the US in billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

China counts more than 1,000 billionaires in US dollar terms, overtaking solidly the US, according to the Hurun Rich List ranking. “We’re currently in the heart of a new industrial revolution, with new technologies including artificial intelligence, blockchain, cloud, data and e-commerce creating new opportunities for entrepreneurs and leading to a concentration of wealth and economic power on a scale never seen before,” said Hurun Report Chairman and chief researcher Rupert Hoogewerf, according to Shine.

Shine:

China has the world’s most billionaires — more than the United States, India and Germany combined — due to a flurry of new initial public offerings and the booming digital economy over the past year despite the pandemic, according to the latest Hurun rankings.

The combined wealth of billionaires in China is US$4.5 trillion, up 73 percent from last year.

China currently has 1,058 billionaires, up 259 from a year ago and far surpassing America’s 696 billionaires.

According to the Hurun rankings, the number of billionaires in China began to overtake the US in 2016.

“We’re currently in the heart of a new industrial revolution, with new technologies including artificial intelligence, blockchain, cloud, data and e-commerce creating new opportunities for entrepreneurs and leading to a concentration of wealth and economic power on a scale never seen before,” said Hurun Report Chairman and Chief researcher Rupert Hoogewerf. “Despite the disruption caused by COVID-19, this year has seen the biggest wealth increase in the last decade.”

China is the first country in the world to have more than 1,000 billionaires.

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Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference, do get in touch or fill in our speakers’ request form.

Are you looking for more strategic experts at the China Speakers Bureau? Do check out this list.