Yang Huiyan, 31, vice-chairwoman of Guangdong-based propertydeveloper Country Garden Holdings Co Ltd, topped the "RichestChinese Under 40 List" released by Hurun on Thursday. With estimated assets of 36 billion yuan ($5.7 billion), she wasalso the richest second-generation entrepreneur for the secondconsecutive year, according to Hurun's report. "Yang's example can be found nowhere else outside China, not evenin Russia or the United States," said Rupert Hoogewerf, chairmanand chief researcher of the Hurun Report. "It is very rare for a young entrepreneur to inherit the majorityof a company's shares when her father is still in charge of thecompany's operations." Fang Wei, 39, chairman of a contractor and manufacturer of exteriorfacades and curtain wall cladding systems in Liaoning province,with assets of 15 billion yuan, was listed as the richest youngentrepreneur starting from scratch. A total of 33 rich young Chinese with assets of more than 1 billionyuan were on the list, with 25 starting their business fromscratch. Among the top 10 richest on the list, six of them startedempty-handed. "The richest Chinese under the age of 40 with their own businessesare found to be most successful in the entertainment andinformation technology industries," said Hoogewerf. He said it was a widely held misconception that most of China'syoung rich had gained their wealth through inheritance. Guangdong is home to the largest number of young tycoons, with sixentrepreneurs from this province named on the list, with Shanghai,Beijing and Zhejiang following closely. Basketball star Yao Ming, 32, was listed as the 23rd richest youngentrepreneur who started from scratch. Yao started his own wine company last year, and launched a winenamed after himself at a charity auction in November. Hoogewerf said the difference between Chinese entrepreneurs andtheir foreign counterparts is that most Chinese entrepreneurs"built up their wealth totally depending on themselves". He added: "There is a growing trend among the Chinese rich thatthey are more willing to see their children receive an overseaseducation, with about 90 percent of the people interviewed showingsuch an intention. "The percentage with British entrepreneurs is a mere 20 percent.And even in India, where the tradition of sending children overseasfor their studies has prevailed for a long time, the percentage ismuch lower," he said. Hoogewerf added that there are 1.05 million people in China withpersonal assets of 10 million yuan or above. "On average, the young Chinese rich were born around 1972, whichmeans that they are 10 or 15 years younger than their Europeanpeers," he said. Among the recreational activities favored by the young rich, sportscars are growing in popularity, a trend illustrated by the openingof the 2012 Super Club Challenge sports car festival in Shanghai onThursday. "We have held this carnival to promote the charm of sports cars andto make a clear distinction between sports car racing and illegalspeeding," said Yu Bo, founder of the Unique Motorsport club. I am an expert from medical-rehab-equipment.com, while we provides the quality product, such as Fashion Wheelchairs , China Electric Mobility Wheelchair, Sports Wheel Chair,and more.
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