China overtook the US as the home of most unicorns, startups with a valuation of over US$1 billion, says the latest Hurun Report, according to the South China Morning Post. Hurun publisher Rupert Hoogewerf: “These unicorns, mostly in the new economy, are the fastest-growing companies with the most potential to grow big against a slowing economy.”
Category Archives: billionaires
Where do they go to, where do they stay. The travel industry is eagerly looking at the luxury traveler from China. The latest Hurun Chinese Luxury Traveller report shows some answers: they increasingly go for luxury homes instead of hotels, says Hurun chairman Rupert Hoogewerf to the South China Morning Post.
Women might be scarce at China’s political platforms, but on the China rich list, they are doing very well, says Hurun China Rich List publisher Rupert Hoogewerf tells the China Daily. “China accounts for 60 percent of the world’s most successful female entrepreneurs, while Chinese women make up one-fifth of the world’s female population,” he says.
Dropping stock markets have caused a bloodshed at the 2018 Hurun Rich List where 11% dropped off the list compared to 2017. But also 219 new faces entered the list, says Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher at their website. Alibaba’s Jack Ma became number one again, pushing out real estate tycoons.
Alibaba’s chairman Jack Ma announced he will turn over the reins of his company to the next generation of executives next year. But business analyst Shaun Rein, author of The End of Cheap China, Revised and Updated: Economic and Cultural Trends That Will Disrupt the World, wonders if the new generation takes over Ma’s magic spell over staff, users and investors, he tells to Inkstone News.
Traditionally China’s youngsters wanted a job with the government, but Alibaba’s Jack Ma changed that perspective and starting a startup became the choice of many, says William Bao Bean, a Shanghai-based partner at venture capital firm SOS, one of the largest VC’s, to Bloomberg. How Jack Ma changed China.
The successful IPO of Pinduoduo, the third e-commerce platform in China after Alibaba and JD.com, took many by surprise. But it does not mean Pinduoduo will be equally successful in the future, warns business analyst Shaun Rein, author of The War for China’s Wallet: Profiting from the New World Order, at the South China Morning Post. Just days later, it was accused of hosting counterfeit goods.
Despite talks of trade war and erratic tweets and policies by US president Donald Trump, China’s rich still see in the US the preferred destination for migration, says the 2018 Hurun report on immigration and China’s HNWI’d. And despite talk of the Brexit, London is moving upwards in its annual rankings, says Hurun chief researcher Rupert Hoogewerf.
Two decades ago Jim Rogers moved to Singapore as he emerges as a major bull on Asia. Since then he stuck to his guns as a successful investor, made sure his daughters were fluent in Mandarin and became a leading voice on investments in China, Asia and elsewhere. Now he is predicting a bear market, the worst we have ever seen. Most recently he published Street Smarts: Adventures on the Road and in the Markets.
State moloch CITIC moved in to pick up 49% of Czech assets from CEFC Europe, owned by tycoon Ye Jianming. It is part of a trend, says business analyst Shaun Rein, author of The War for China’s Wallet: Profiting from the New World Order to the South China Morning Post, as state firms are easier to control by China’s central government and expand its policies abroad.