Top-20 blockchain companies in China - Rupert Hoogewerf

Rupert Hoogewerf in Shenzhen

Over the weekend, the Hurun Report chairman Rupert Hoogewerf presented in Shenzhen his latest report, together with Xiha Finance, on the top-20 blockchain companies in China, with Waltonchain as the winner, according to the Medium.com.

Medium.com:

This is the first time in the history of the Hurun that blockchain technology has been embraced. As the starting point to enhance the value of the blockchain technology, blockchain projects have become the focus of this awards ceremony. Waltonchain, as the winner of the Hurun Blockchain Innovators 2018 award, was invited to attend the awards ceremony. 

More than 1,000 industry leaders from all over Asia gathered at the conference. These included blockchain practitioners, experts, investors and big names such as Huawei, Ant Financial and Xiaomi. The focus was on new trends and how to construct a brand-new blockchain ecosystem with a new mindset — thinking outside of the box. Some hot topics were innovative applications, future development trends and risks of blockchain. 

As the winner of the Hurun Blockchain Innovators 2018 award, Waltonchain was also invited to attend. Waltonchain CSO Welson Wong accepted the award on behalf of Waltonchain. It is a fact that, having its excellent technical strength, Waltonchain has already become a leader in the blockchain + IoT industry. 

At present, the blockchain industry is rife with chaos and hype. Fortunately there are projects that are consistently recognized for their solid foundations and what they have actually accomplished in the real world. The Hurun Blockchain Companies List focuses on the essence of “chains” and helps serve the real economy and energize the blockchain ecosystem. 

As a leader in blockchain + IoT, Waltonchain aims to promote the healthy development of blockchain technology and strives to build a brand-new business ecosystem.

More at the Medium.com.

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China produces one unicorn every three days - Rupert Hoogewerf

Rupert Hoogewerf

Rupert Hoogewerf - chief researcher and founder of the Hurun China Rich List - is a busy man. Every three days, a new unicorn - a company valued over 1 billion US dollar and unlisted - emerges in China, shows his latest report. "If model, talent and capital are all in place, start-ups can move very fast," said Rupert Hoogewerf to the Global Times.

The Global Times:

The total number of such companies stood at 151 as of the end of March, said the report. 

Among 33 newly listed unicorn companies, Tencent Music, a streaming and downloading services provider like Spotify, ranked first in terms of market valuation worth 150 billion yuan ($23.89 billion), followed by JD Logistics with 70 billion yuan. 

Around one-third of the companies are in the internet services sector including Ziroom, an online platform for apartment renting and sharing. 

Next came culture, entertainment and mobility, with Aiways Technology Co, a 1-year-old Shanghai-based internet start-up focused on intelligent and electric vehicles, being the youngest unicorn. 

Aiways said on Sunday that it has secured three rounds of financing totaling 7 billion yuan, industry news site tmtpost.com reported. 

"If model, talent and capital are all in place, start-ups can move very fast," said Rupert Hoogewerf, chairman and chief researcher of the Hurun Research Institute. 

Among all the unicorn companies surveyed by the Hurun report, Ant Financial, an affiliate of Alibaba Group Holding, topped the list with a valuation of 400 billion yuan. 

The financial technology giant is preparing to raise $9 billion in a private funding round ahead of its IPO, which may value the company at about $150 billion, the Wall Street Journal reported on April 10, citing people familiar with the matter.

More in the Global Times.

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China's International deals shrank in 2017 - Rupert Hoogewerf

Rupert Hoogewerf

Overseas mergers and acquisitions by Chinese companies went down in value over 2017, says a report by Hurun. Especially the real estate and energy industries went down, says Hurun chief researcher Rupert Hoogewerf to Global Times. Retail, technology and manufacturing did relatively well.

Global Times:

In 2017, M&A deals by Chinese companies fell 1.7 percent year-on-year to 400, said the report. 

Among these deals, 312 disclosed the amount of investment, which was 960 billion yuan ($152.11 billion), down 28 percent year-on-year. The value of the top 100 M&A deals slumped 37 percent to 880 billion yuan. 

The manufacturing industry had the largest number of M&A deals in 2017, followed by technology, retail, energy, mineral, public services, medical, financial services and property, the report noted. 

Compared with 2016, the energy and real estate sectors had the biggest declines in transaction numbers, while manufacturing, technology and retail had the largest gains, Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, was quoted as saying in the report. 

The largest deal involved a consortium led by property developer Vanke, Bank of China Group Investment and venture capital firms Hopu Investment and Hillhouse Capital Group, which acquired 78 percent of Singapore-based logistics company GLP Group for 104 billion yuan. 

The US was still the hottest destination for Chinese investors in 2017, with 16 investments. But the number of M&A deals fell 14 compared with 2016, according to the report. The report said that the Belt and Road initiative has offered new opportunities for Chinese companies. In 2017, the transaction volume of M&A deals in countries and regions along the Belt and Road routes surged 25 percent year-on-year to 240 billion yuan. By 2030, investment is estimated to reach 30 trillion yuan.

More in the Global Times

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China dominates the woman self-made billionaires - Rupert Hoogewerf

Rupert Hoogewerf

Chinese women dominate the Hurun global self-made woman rich list, says Hurun founder Rupert Hoogewerf. The list is released on today's Women's Day, and has Zhou Qunfei of the Lens Technology firm as the topper, says the BBC.

The BBC:

China has once again dominated a list of global self-made woman billionaires. 

The top four women in the report by publisher Hurun - and five of the top 10 - come from the Asian superpower. 

Zhou Qunfei, who founded a firm that makes glass used to cover laptops and smartphones, was the world's richest self-made woman, with $9.8bn (£7.1bn). 

Her company Lens Technology has contracts with some of the biggest technology firms, and counts Apple and Samsung as its main customers... 

In total, 28 of the top 50 on the Hurun self-made list are from China. 

Ms Zhou took the top spot from Beijing-based real estate developer Chen Lihua ($8.1bn). 

Ms Chen, who runs Fu Wah International, slipped to third after her wealth barely changed since 2017. 

Another property developer, Wu Yajun from the western city of Chongqing, moved into second place. She is worth $9.3bn after a staggering 83% leap in her fortune in just 12 months. 

The richest self-made woman from outside China is American Diane Hendricks, the co-founder of Wisconsin-based ABC Supply, one of the US's largest distributors of roofing and windows.

More at the BBC.

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Fewer rich show up at China's legislature - Rupert Hoogewerf

Rupert Hoogewerf

Coming weeks China's lawmakers will flood Beijing for the country's annual two legislative conferences. Favorite past time or media: counting the rich. Although China gets weekly four new billionaires, both conference will see fewer rich, although their average wealth went up, says Rupert Hoogewerf or Hurun who just released the 2018 Global Rich list, to AP.

AP:

Xi [Jinping] is set to begin a second-five year term as president at the parliament's meeting starting March 5. NPC delegates are expected to approve the Communist Party's plan to remove presidential term limits, giving Xi, who has taken control of an unusually wide range of political and economic tasks, even more power. 

Hoogewerf said while the ranks of superrich lawmakers have thinned out, he hasn't seen anything to indicate Chinese entrepreneurs are "losing confidence in the business environment." 

Delegates are chosen every five years, most recently this year. High turnover between last year's group and the new NPC attendees is one big reason for the ranking's changes, said Hoogewerf. He added that delegates don't have nearly the same power that members of Congress or senators have in other legislatures. 

Heading the list is Pony Ma Huateng, CEO of internet giant Tencent Holdings, operator of China's ubiquitous WeChat/Weixin chat app, with a net worth of $47 billion.

More at AP.

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China's billionaires: moving up in the 2018 Global Rich List - Rupert Hoogewerf

Rupert Hoogewerf

Americans still dominate the 2018 Global Rich List, but with four new billionaires a week, China is moving up very fast, says Hurun Rich List chief researcher Rupert Hoogewerf at the release of the annual overview. Tencent's CEO Pony Ma is now the highest listed Chinese billionaire at no.15, beating Xu Jiayin of Evergrande and Jack Ma of Alibaba this year.

The Hurun Rich List:

The Hurun Global Rich List 2018 ranked 2,694 billionaires from 68 countries and from 2,157 companies in another record-breaking year for the world’s billionaires. 

Total wealth increased by a staggering 31% to US$10.5 trillion, equivalent to 13.2% of global GDP, and almost double the 7% of global GDP six years ago. Rupert Hoogewerf said, “Never has so much wealth been concentrated in the hands of so few.” 

It has been an outstanding year for billionaires: 1508 saw their wealth increase and there were 567 new faces. 

Chinese billionaires are pulling away from the USA for the third year running, 819 compared with 571.  Just two years ago, they were neck and neck at 534 and 535. Hoogewerf said, “China is going through an amazing period of entrepreneurship, adding 210 billionaires in the past year.” 

It has been a good year for India, claiming back its third place after adding 31 billionaires, on the back of a record performance of the Indian stock markets. 

The average lister is aged 63, one year younger than last year. 

Rupert Hoogewerf says, “The world today has the best part of 6,000 dollar billionaires, assuming that for every one we found, we have probably at least one if not more, particularly from the Gulf states.” 

Hoogewerf continues, “A boom in China, a weak dollar and a 26% hike in Nasdaq have led to a surge in dollar billionaires across the world. The US dollar depreciated 16% against the Euro, 12% against the British Pound, 10% against the Chinese Yuan and 6% against the Indian Rupee. Global economic growth was at 3% last year, the fastest rate since 2011 and a significant acceleration compared with 2.4% the previous year.”

More at official the Hurun Rich List.

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Zhejiang: the new hot spot for billionaires - Rupert Hoogewerf

Rupert Hoogewerf

Zhejiang province, with its capital Hangzhou, have developed into a preferred destination for billionaires, says Rupert Hoogewerf, founder of the Hurun China rich list. Zhejiang not only passed domestic cities like Beijing and Shanghai, but also Paris and San Francisco in the 2018 Hurun report, writes the Digital Journal.

The Digital Journal:

Explaining the winning formula of the province to CNNMoney in 2016, Jack Ma, billionaire CEO of leading online platform e-commerce platform, Alibaba, and native of Hangzhou in Zhejiang, had attributed the economic achievements of the province to “It's... surroundings, culture, (and) history". 

Today, such environment, culture, and history cited have seen the region produce 72 billionaires, 32 of which live in the capital city of Hangzhou - that's two more than Paris and four more than California's San Francisco. Notable among the 72 billionaires from the region are Neil Shen, founder of Sequoia Capital China; Ding Lei, founder of NetEase; and Li Shufu, founder of Geely Auto Group, which owns Volvo and is based in Hangzhou. With a population that makes up just about 5% of China's population, the region produces about 15% of the country's richest people, according to Rupert Hoogewerf, chairman, Hurun Report. 

But that's not all. Beyond the individual billionaire count, Zhejiang's overall economic stats are equally mouth-watering. With a staggering GDP of 5.1768 trillion RMB which is 766.7 billion USD for the year 2017 (bigger than the GDP of Netherlands in 2016!), the Province of Zhejiang has become a glowing haven of wealth creation.

More in the Digital Journal.

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Rich more optimistic about China's future - Rupert Hoogewerf

Rupert Hoogewerf

China's high-net-worth individuals are more optimistic about the country's economic development compared to last yet, says the Hurun Chinese Luxury Consumers Survey 2018, released on Wednesday, according to the China Daily. Rupert Hoogewerf, founder and chief researcher of Hurun, said that although China's GDP growth rate was 6.9 percent last year, which is slightly up from the 6.5 percent estimated by the central government at the beginning of 2017, it is enough to make a difference.

The China Daily:

The Shanghai-based Hurun Research Institute, which conducted the study, said that only 6 percent of the respondents were pessimistic on prospects, while that number was 9 percent a year ago. 

Rupert Hoogewerf, founder and chief researcher of Hurun, said that although China's GDP growth rate was 6.9 percent last year, which is slightly up from the 6.5 percent estimated by the central government at the beginning of 2017, it is enough to make a difference. 

As a result, 72 percent of the respondents－up from 65 percent last year－expected that China and the United States will run neck and neck in terms of economic development in the next decade. About 37 percent said that China is likely to overtake the US in 10 years, which is up from 28 percent a year ago. 

It is the 14th consecutive year that Hurun has released this list. About 58 percent of the surveyed high-net-worth individuals this year, who have not immigrated yet, expressed no such plans, a historic low since 2011. In addition, overseas investment dropped out from the top five personal investment channels. As explained by Hoogewerf, it reflects the rich individuals diverse interests in the domestic market. 

Liquor band Kweichow Moutai is the only Chinese brand that figures in the top 10 favorite brands for gifting. According to Hoogewerf, wealthy individuals' preference of brands for gifting has consolidated over time, which means that they are extremely loyal to certain brands and will not opt for a substitute easily even if the new products are a hit in the market. 

In terms of recreation and activities, sailing took the second spot among the activities that Chinese high net worth individuals want to try in the next three years, next to equestrianism.

More in the China Daily. Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Ant Financial, Didi Chuxing and Xiaomi top 2017 best Chinese unicorns - Rupert Hoogewerf

Rupert Hoogewerf

Ant Financial, Didi Chuxing and Xiaomi made it to the top-3 Chinese unicorns in 2017 on a list of 120 most successful unicorns in Greater China, announced the Hurun Greater China Unicorn 2017 Index last week. Beijing is leading the pack, says Hurun founder Rupert Hoogewerf, followed by Shanghai, Shenzhen, and Hangzhou. Keeping up with the amazing growth is tough, Hoogewerf tells AsiaVenturepedia.

Asiaventurepedia:

The Hurun Research Institute released today the Hurun Greater China Unicorn Index 2017, where Ant Financial, Didi Chuxing, and Xiaomi top the chart. The report listed out 120 best unicorns in the Greater China region that are valued over $1 billion as of the end of November 2017. 

“We select the companies valued over $1 billion based on the initial definition of a unicorn startup. However, for many investors nowadays, only those valued over $10 billion or over $15 billion are considered unicorns,” says Rupert Hoogewerf, chairman of Hurun Report, in a statement. 

It’s worth noting that Beijing accommodates the most unicorn startups, holding up 45% of the companies on the list, followed by Shanghai, Hangzhou, and Shenzhen. Among the selected companies, 17 of them are from the internet finance industry with valuations totaling RMB 700 billion (roughly $106.5 billion). 

On top of that, the list also sees a slew of startups from the internet service and e-commerce sectors, both of which account for 18% of all the listed companies. Startups from the entertainment, transportation, and health sector are active as well. 

Also, among the top 10 unicorns, eight of them are valued over RMB 8 billion ($12 billion). Sequoia Capital, on the other hand, became the venture capital that invested in the most unicorns, followed by Tencent and MatrixPartners China. 

On the list, Ant Financial, Didi Chuxing, and Xiaomi are named the top three unicorns with valuations respectively at RMB 400 billion ($60.84 billion), RMB 300 billion ($45.63 billion), and RMB 200 billion ($30.42 billion). The other unicorns include China Internet Plus, Toutiao, CATL, Lufax, DJI, Koubei, Cainiao, JD Finance, and Ele.me.

More in Asiaventurepedia.

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Ranking international schools in China - Rupert Hoogewerf

Rupert Hoogewerf

International schools are big business in China, not only for expat families living in China, but increasingly also for ambitious Chinese. Rupert Hoogewerf, chief researcher of the Hurun China Rich List ranked those schools for the first time at Hurun Education. YK PAO school, International School of Beijing, Dulwich College Beijing and Keystone Academy lead the top international schools in China, the report says.

Hurun Education:

 “China's international schools are young, especially compared with the top schools in the UK and US, many of which have been around for several hundred years. With the demand in the market for an international education, expect to see these schools and their alumni build an international reputation of excellence,” said Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher. 

Average annual tuition is about US$20,000, rising to US$45,000 for the big cities of Shanghai and Beijing. “It is a big cost to put a child through the international education system in China,” continued Hoogewerf. 

Between April and October, Hurun Education asked 110 international education experts in China an unprompted question to recommend up to five schools in each of ‘Greater Shanghai’, ‘Greater Beijing’, Guangdong and ‘Rest of China’. Hurun Education received 942 nominations in total, an average of just under 9 nominations per expert. Half of respondents were school principals and senior teachers with the other half including investors, overseas study agents, training institutions and administrative departments of education. 34% came from ‘Greater Shanghai’, including Shanghai, Zhejiang and Jiangsu; 33% from ‘Greater Beijing’, including Beijing and Tianjin, and 33% from the rest of China. 24% of respondents were non-Chinese. 152 schools received votes. Schools were ranked on an index of 1 to 100, the school with the most votes receiving the maximum index of 100. The rankings refer to international schools in Mainland China only. 

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, said, “I believe this to be the first serious attempt to rank the international schools in China. This ranking is targeted at parents with children in China and admission officers of universities from around the world. I hope this ranking will help parents form an opinion on which international school is the most suitable for their child, by providing a comprehensive study of the market from the views of international educational experts in China.”

More at Hurun Education.

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Tencent's Pony Ma: the consistent growth factor - Rupert Hoogewerf

Rupert Hoogewerf

In the dramatic battle between the two major Chinese IT giants, Alibaba and Tencent, Alibaba's Jack Ma often grabs the attention, outspoken and in excellent English. Tencent's CEO Pony Ma is a dark horse, but now Time dives into his background. For Rupert Hoogewerf, founder of the Hurun China Rich List, Pony Ma has been a factor of constant growth, he tells the magazine.

Time:

This year has been an exceptional one for (Pony) Ma, thanks to surging stock prices in China. Prior to 2017, Ma was worth $20.8 billion, according to Bloomberg’s billionaire index. In 2017 alone, Ma has made $21.5 billion according to the index — 5th-most on the index and second in China only to industrialist Hui Ka Yan, whom MONEY profiled earlier this year. Five of the top-10 wealth gainers in 2017 have been Chinese, according to Bloomberg. But it is Ma — no relation to Yahoo owner Jack Ma — who is set to have an increasing presence on the world stage. 

“Pony is unique in that he has been one of the most consistent players on the Hurun China Rich List,” Rupert Hoogewerf, publisher of the Hurun rich list, which tracks Chinese wealth, told MONEY in an email. “I can’t think of anyone else that has grown so consistently.”

Pony Ma

More about Pony Ma in Time.

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Honouring Zhejiang entrepreneur Lu Guanqiu - Rupert Hoogewerf

Rupert Hooogewerf

The iconic Zhejiang entrepreneur Lu Guanqiu, founder of China's largest automotive parts company Wanxiang Group, passed away last week, 72 years old. Hurun China rich list founder Rupert Hoogewerf remembers him as "industrious, down-to-earth and low-profile" , he tells in Asia One.

Asia One:

His success in managing Wanxiang helped Lu rise high in the nation's rich list. Rupert Hoogewerf, founder and chief researcher of Hurun Rich List, rated Lu as "evergreen" on the list. In the 2017 Hurun Rich List, Lu and his family ranked No 37, with a net wealth of 49 billion yuan (S$10 billion). 

"Lu is the first name that popped into my mind when asked about a model of Zhejiang entrepreneurs, although his wealth has been overtaken by Zong Qinghou from Wahaha and Jack Ma from Alibaba," Hoogewerf said. 

"He is industrious, down-to-earth and low-profile. He was the first private company owner who could make his wealth transparent to the public," he added. 

Wanxiang was founded in 1969 with 4,000 yuan by Lu and six other local farmers in rural Zhejiang as a maintenance depot for farm machinery. It began focusing on producing universal joints in 1980, which is a key component in automobiles' driving systems.

More in Asia One.

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Xu Jiayin of Evergrande, China's latest richest man - Rupert Hoogewerf

Rupert Hoogewerf

The annual Hurun Rich list has identified Xu Jiayin, chairman of the China Evergrande Group as China's richest man, beating more familiar names like Alibaba's Jack Ma and Wang Jianlin of the Wanda Group. Hurun's chairman Rupert Hoogewerf reports more drastic changes, he tells Reuters.

Reuters:

Xu’s reported $43 billion wealth - a gain of around $30 billion against last year - comes on the back of a surge in Evergrande’s shares, up over 450 percent so far this year amid plans to cut debt and focus on profit over scale. 

The Hurun Report, established in 1999, is the leading China-based organization ranking the wealth of the country’s rich and famous, and its list gives a temperature check on the winners and losers in China. 

Growth in China stabilized this year, but while the world’s second largest economy averted a hard landing, some major corporations have buckled under the weight of their debt or been sanctioned by authorities over risky investments overseas. 

Wanda’s Wang - who took top spot for the last two years - dropped to fifth in the list after Wanda sold off much of the firm’s hotel and theme park assets to rivals in July, after coming under regulatory scrutiny over its high leverage. 

Close behind Evergrande’s Xu were China’s top tech titans - Alibaba’s Jack Ma and Tencent Holdings Ltd’s Pony Ma, who has seen his firm’s value rise on the popularity of its WeChat messaging app and its popular online games. 

The list also underlined those who have fallen from grace in corporate China.

Jia Yueting, founder of sprawling conglomerate LeEco that once looked to rival both Tesla Inc and Netflix, dropped to 1,978th place from 31st last year. 

Yang Kai, chairman of embattled Huishan Dairy - 66th last year - dropped off the list entirely as his firm fights off creditors amid billions of dollars of unpaid debt. 

On the up was Wuxi Pharma Tech’s Li Ge and his wife, propelled by China’s push towards drug innovation, Zhang Lei of fast-growing online news portal Toutiao and Li Shufu of carmaker Geely Automobile Holdings Ltd. 

“It has been a good year for manufacturing, cars, education, TMT and healthcare,” Hurun founder Rupert Hoogewerf said. 

While many of those on the 2,000-strong list were members of the National People’s Congress and Chinese People’s Political Consultative Conference, only a few were delegates at the upcoming five-yearly Party Congress that begins next week.

More at Reuters.

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Demand fuels house prices - Rupert Hoogewerf

Rupert Hoogewerf

Demand for houses, both inside and outside China, fuels a strong spike in house prices, says the latest Hurun Global House Price Index 2017 Half-Year Report, set up by its chief researcher Rupert Hoogewerf. It is the first report taking the value of the Chinese Renminbi as a starting point, as most Chinese investors would do, Hoogewerf tells International Investment.

International Investment:

The report is different than some others that rank global markets on the basis of affordability in that it considers the annual house price changes and rental yields alongside the change in the value of the Chinese renminbi, the currency with which Chinese investors typically start out with as they look to invest. 

Also unlike some other reports, it focuses on the most popular Chinese investment destinations, with the result that there may be cities in the world with higher property rises than those included in its database but which aren’t included because they aren’t considered of interest to Chinese high-net-worth individuals. 

With respect to the rapid house-price rises in these Chinese cities, Rupert Hoogewerf, the British founder, chairman and chief researcher of the Hurun Research Institute, noted that they are generating  “real concern in China about the impact on the future economy”. 

“Although there are measures in place to curb excessive growth, by restricting high prices on new developments, for example, there is an underlying demand for housing that is fueling further potential price hikes.” 

Among high-net-worth Chinese, Hoogewerf went on, “global asset allocation”, led by real estate, remains a major trend, in spite of Chinese government efforts to curb overseas investment by its citizens.

More at International Investment.

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The fast-growing housing market of Wuxi - Rupert Hoogewerf

Rupert Hoogewerf

Traditionally Shanghai, Beijing and Guangzhou were benchmark cities when looking at the housing market in China. But when you want to know where global wealth is growing fastest, you might have to look at a few unfamiliar names, including Wuxi, overtaking Hong Kong as the most expensive city, says Rupert Hoogewerf, chief researcher of the latest Hurun Report, according to the South China Morning Post.

The South China Morning Post:

Complied by research house Hurun Report, the study highlights growth in global home prices in the 12 months to June 30, with 42 of the 50 cities under the spotlight from 12 countries it examined, being hit with price rises of more that 10 per cent in the period.

The five cities to suffer the fastest growing prices were Toronto, Reykjavík, Wuxi, Hong Kong and Zhengzhou, the provincial capital of Henan Province. 

Six Chinese cities were named in top 10, while that total of 21 makes the country the most listed, followed by the US (Seattle, Orlando, Dallas, Denver, New York, Sacramento and Miami), Germany (Berlin, Hanover, Stuttgart, Frankfurt, Munich and Hamburg), Canada (Toronto, Hamilton, Victoria and Vancouver), Australia (Melbourne, Sydney and Canberra), Ireland and New Zealand with 2 cities each... 

Maybe surprisingly, the eastern Chinese city of Wuxi – around 140 kilometres or a 2-hour drive, west of Shanghai – overtook Hong Kong, recently dubbed “the world’s most expensive housing market”, to become the Chinese city so see the highest growth in home prices, as it is much less known than other major population centres such as Beijing and Shanghai.. 

Wuxi, in the southern Chinese province of Jiangsu, borders two other large cities, Changzhou to the west and Suzhou to the east, and saw a 22. 9 per cent rise in prices in the period, exceeding Hong Kong’s 20.8 per cent rise, according to Hurun Report, which is best-known for its rankings of the richest people in China. 

The other four Chinese cities in top 10 are Zhengzhou, the capital of east-central China’s Henan province (+20.2 per cent), Changsha in Hunan province (+18.5 per cent), Guangzhou (+17.9 per cent) in Guangdong province and Shijiazhuang (+16.1 per cent) in Hebei. 

“Global asset allocation is one of the biggest trends now for China’s high-net-worth individuals, led by real estate,” said Rupert Hoogewerf, chairman and chief researcher of Hurun Report. 

Jinan, Hefei, Wuhan, Xiamen, Hangzhou, Xi’an, Fuzhou, Nanjing, Tianjin, Nanning, Chongqing, Beijing, Qingdao, Nanchang and Shanghai are those ranked outside the top 10 but also among the top 50, said the report.

More in the South China Morning Post.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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

The uptick in spending on real estate, Tesla and Baijiu - Rupert Hoogewerf

Rupert Hoogewerf

The China's luxury Consumer Price Index (CPI) rose 3.6% on a yearly basis in 2017, both based on more wealthy Chinese, and an uptick in the money they spend. Chief researcher of the Hurun China rich list Rupert Hoogewerf says expenditure on real estate, Tesla and Baijiu going up, he tells in Asia Times.

Asia Times:

The Luxury Consumer Price Index, released by Hurun each year, aims to measure the price changes for a predetermined basket of goods and services purchased by China's high-net-worth individuals (HNWI). The index covers the consumption activities of wealthy Chinese in the following 11 categories: real estate, health, education, luxury tourism, weddings, watches & jewelry, accessories & beauty products, cruises & private jets, lifestyle, liquor & cigarettes, and automobiles. 

The 2017 index, which gauges prices from June 2016 to June 2017, was calculated based on a basket of 116 high-end goods and services, 20% of them imported. The issue marks the 11th edition of the index. 

The depreciation of the Chinese yuan against major global currencies over the past year has been the main reason for the decreasing purchasing power of China's rich population with respect to buying luxury property worldwide and high-end imported goods. 

Based on Hurun's estimates, there were nearly 1.34 million HNWIs in mainland #China by May 2016, while the number of individuals with over a billion yuan of wealth was close to 89,000. Over the past year, this population has borne the brunt of the price spike in the areas of luxury property, liquor, lifestyle and travel. 

'What impresses me most, this year, is how much the price of real estate, baijiu (a traditional Chinese liquor) and Tesla has increased,'said Rupert Hoogewerf, chairman and chief researcher of the institute, 'completely lifting up the luxury CPI.' 

For affluent Chinese buyers, the price of luxury property has gone up 16.6% since last year. Domestically, a villa in China's southwestern city Chengdu spiked 56.5%, followed by properties in Hainan (a rising tourism city) and Shanghai. Housing prices in overseas cities such as Vancouver, San Francisco, Los Angeles and New York also jumped.

More in Asia Times.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form. 

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

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Winners in luxury: property, baijiu and Tesla - Rupert Hoogewerf

Rupert Hoogewerf

Spending on luxury in China went up over 80 percent over the past ten years, reveals the Luxury Consumer Price Index (LCPI). HuRun chief researcher Rupert Hoogewerf points in ECNS at three major winners: property, baijiu and Tesla.

ECNS:

The gauge represents a basket of 116 high-end goods and services, 20 percent of which are imported. It is the 11th of this kind issued by HuRun research institute, which tracks changes among China's high-net-worth individuals. 

The index compares the price level from June 2016 to June 2017, while noting that the LCPI rose by 3.6 percent so far this year, outpacing a 1.5 percent increase in CPI. 

"What impresses me most this year is the increase in property prices, baijiu (a Chinese alcohol), and Tesla cars, which drive the general luxury consumer price up," said Rupert Hoogewerf, chairman and chief researcher of the institute. 

Of the 11 categories measured by HuRun, luxury housing price led the upward trend, up 16.6 percent from the previous year. And baijiu recorded huge price surge, with Wuliangye, one of China's most famous high-end Baijiu brands, rising as high as 30.5 percent. 

The LCPI report attributed more expensive luxury houses and imports to the depreciation of yuan, as many foreign currencies became stronger, with exchange rate of US dollar against renminbi up 3.6 percent year-on-year as of June 9. 

Gold and diamond maintained momentum, up 9.6 percent and 3.3 percent respectively. And Tesla electric cars increased by 4.5 percent, thank to favorable policies in China to support electric car development, the report noted. 

However, wedding and healthcare markets witnessed a decline for the first time, dropping 3.6 percent and 3.5 percent respectively.

More at ECNS.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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

US still top-destination for China's rich - Rupert Hoogewerf

Rupert Hoogewerf

Despite the election of Donald Trump, increased immigration barriers to the US and increased animosity between China and the US, the US is still the top destination for rich Chinese leaving their country, says China Rich List researcher Rupert Hoogewerf. Although the number of rich leaving their country is dropping, he tells the South China Morning Post.

The South China Morning Post:

The United States remains the top destination for rich Chinese investors looking to buy property and move overseas, according to a report released on the weekend.

The report, by Hurun Report and Visas Consulting, also said Chinese were more concerned about the depreciation of the yuan and their lack of knowledge about overseas investment. 

The assessments were based on interviews conducted between April and July with 304 Chinese who had already emigrated or planned to do so. Their average wealth was 20 million yuan (US$2.95 million or HK$23 million). 

Canada was the second most popular destination on the list, followed by Australia. Hong Kong was 15th. 

Within the US, the west coast had the greatest allure, particularly Los Angeles, Seattle and San Francisco. New York remained the fourth most popular city. 

For the fourth year in a row, education and “living environment” were the main forces driving rich Chinese overseas, the report said. Another major reason was access to better medical care. 

Nearly 20 per cent of the ­respondents said they were not confident about the country’s growth prospects. 

But the survey also revealed barriers to emigration. Almost 30 per cent of those surveyed said long waiting times were the biggest obstacle, ­followed by language barriers and difficulty in integrating into ­mainstream society. 

“Over the past decade, the number of Chinese rich considering immigration has remained at around 60 per cent, but this year [it] has come down to just under half, the lowest on record, but still not low,” Hurun Report chief ­researcher Rupert Hoogewerf said. 

More than 34 per cent of those surveyed said they were considering moving to a different city in China – a sign that property prices might stay high.

More in the South China Morning Post.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.   

Online literature writers make fortunes - Rupert Hoogewerf

Rupert Hoogewerf

While much of the book publishers try to get their act together now readers go online, China boast even a top ten of literature writers, earning more than US$150 million each. Chief researcher Rupert Hoogewerf explains to Global Times why the Harry Potter franchise did so well, also in China.

Global Times:

On Wednesday (last week), the Hurun Research Institute and domestic IP management agency Mopian released the Mopian Hurun Most Valuable Creative Works IP 2017 list, which lists the top 100 most valuable literature IPs in China after 1998. 

Fights Breaks Sphere written by 27-year-old author Tiancan Tudou ranked first on the list. Other well-known works that have been adapted into other mediums such as TV shows or movies in recent years, including Nirvana in Fire, Fighter of the Destiny and Grave Robbers' Chronicles also made it into the top 10. In the Name of People, a novel that was recently adapted into the hit anti-graft TV show of the same name, came in at 21. 

According to Hoogewerf, the ranks of the works on the list were determined by looking at data such as online viewership, number of fans and the number of times a work has been recommended on literature platforms, followed by a second round of assessment during which the Hurun Research Institute and veteran literature editors gave these additional points based on their social influence and literary value... 

Talking about China's IP market, Hoogewerf mentioned the Harry Potter franchise, one of the highest-earning IPs in not just his home country but around the world. 

"The Harry Potter franchise and the huge industry behind it had a great impact on the British economy," he said. 

"And for me, it's a meaningful thing to participate in China's IP industry," Hoogewerf  said, mentioning that he hoped the list will help improve the confidence of people who are considering entering the IP industry.

More in Global Times.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.  

US and China dominate list of young billionaires - Rupert Hoogewerf

Rupert Hoogewerf

Young and self-made billionaires are mostly coming from the US and China, says a new listing of the Hurun China Rich List. That should serve as a wake-up call for the rest of the world, says Hurun chief researcher Rupert Hoogewerf to the South China Morning Post.

The South China Morning Post:

In China, the top spot belongs to the man behind drone maker DJI, Frank Wang or Wang Tao in Chinese, with an estimated fortune of $4 billion, placing him ninth. Wang turned his Hong Kong dorm room start-up into one of the world's largest sellers of consumer drones and now supplies 70% of the market. 

All told, the United States is home to 20 of the individuals, followed by China's 18. US-based firms that have created more than one billionaire on the list include Uber, Snapchat and Airbnb. 

Rupert Hoogewerf, the chairman of Shanghai-based Hurun Report, said the rankings should serve as an international wake-up call. The domination by the US and Chinese entrepreneurs "should be pretty scary for the rest of the world", Hoogewerf said. The list also gave insight into the rapid speed at which massive wealth is created in the new economy.

More in the South China Morning Post.  Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form. Are you looking for more stories by Rupert Hoogewerf? Do check out this list.