China's factory line of wealth

09:12, May 28, 2010      

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A first of its kind report has identified which university in China cultivates the largest number of billionaires.

Based on analysis of rich list rankings between 1999-2009, the 2010 China Billionaires Investigation Report was issued on Tuesday by the China University Alumni Association and Chongqing-based magazine 21st Century Talent.

According to the report, which appears to serve no useful purpose according to some students, 63 billionaires were graduates from Peking University (PKU), putting it top of the list.

Among the rich lists examined for the report were Hurun China Rich, the Young Tycoons Forbes' China, the Southern Weekly China (Chinese Mainland) Rich and the New Fortune Top 500 Rich.

Last year, 38 PKU graduates were ranked in the lists used, with the value of their property shown as 139 billion yuan ($20.35 billion) in total. In 2009, the personal property of just two alumni from PKU was worth more than 10 billion yuan.

The billionaires come from PKU's MBA, business management, law, biology engineering, mathematics, physics and chemistry programs.

Tsinghua University ranked second in the list.

A total of 54 billionaires were graduates from THU, 32 of which own property worth 91.1 billion yuan ($13.34 billion).

The two leading universities have different views on the rankings.

Researchers at PKU said the ranking is no surprise and relates to the reputation of the university.

"To some degree, the ranking can be attributed to the universities' fame, and the alumni effort to support each other," said Li Feng, an economics post-doctorate at PKU.

Some students think the ranking has no serious value, relevance or purpose.

"The mission of universities is not to foster rich people. If one wants to make money, it's not necessary for him to study in a university," said Hu Hao, a mechanics doctor candidate at Tsinghua University.

"We just read the ranking as a way to entertain ourselves, to know how much money the other alumni have earned. Except for that, it's not an issue in my life."
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