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Forbes: The Biggest Money-earning Sector in China
Rupert Hoogewerf, researcher of Forbes in China region said: "My wish is to let Europeans and Americans know more about China".
There are three data resources for China's richest entrepreneursAfter the list of this year's richest entrepreneurs in China's mainland was released, people are more concerned about resources of the data. Rupert said in an interview with reporters that the main data are from three resources: media, local people and listed companies' material.
The first resource is from China's media, we consulted more than 100 magazines and newspapers. The second has its help from local people. We went to several provinces including Beijing, Chongqing, Chengdu, Xi'an, Guangdong, Hainan, Xinjiang, Fujian, Zhejiang for information. The third is from market values of listed companies.
What's the difference between Forbe's method for listing China's affluents and American affluents?
In America, media pays more attention on private enterprises, when they conduct investigation, the main resource does not mainly come from local people, many reports on the companies can be used or they can also consult data on Internet, according to Rupert.
The list is to tell who the successors are After Forbes released its list last year, some Chinese entrepreneurs and media do not condescend very much, regarding that its data are not accurate and have some omissions. Our purpose is not to find every richest entrepreneur but try our best, we concede omissions. For we can not find many of them, for example, we can not find those who transact stocks, it is not only we who can not find them, Chinese media even can not find them. It is sure that some people have been omitted, so this year, we add more people on the list.
We do not go to find every richest, and it does not include how rich this person is, our purpose is to show that these people are more successful, and where they come from and how much wealth they own, this is the basic meaning of this list.
In China, the biggest money-earning sector is agriculture Through recent years' list on China's richest, Chinese enterprises and entrepreneurs have left much impression on Mr. Rupert.
"Things are by no means easy for them, this is what they impressed me most", said Rupert. China did not have entrepreneurs 20 years ago, but today, entrepreneurs are found increasing in an enlarged number. Some 150 years or even 200 years ago, Britain began to have entrepreneurs, the money of those affluents were basically from their fathers or forefathers. But in China, such case is nearly none, Chinese entrepreneurs basically achieve their wealth accumulation within their generation.
Through contacts with Chinese entrepreneurs, Rupert regards that the biggest money-earning sector in China is agriculture, the Liu brothers in the Hope Group are the richest. He said that China is a big agricultural country, there are a lot of farmers, but China's agriculture was very much undeveloped in the past. In recent 20 years, China saw more development, many people become rich, they may progress much more and many foreign agricultural companies' wish to enter into China's agriculture market is a good proof.
If you asked me which sector is the hottest in China, my answer is agriculture, the second should go to real estates, said Rupert.
Overseas Chinese entrepreneurs grow fastRupert mentioned in his report that this time the list changes mainland entrepreneurs' definition and enlarges their range, it does not only include the grown-up entrepreneurs, but also include those who are from China's mainland, no matter what passport do they have. Why do we change this?
Rupert introduced that we found the previous definition is not suitable, for example, Rong Zhijian, he is a Hong Konger, but actually he descended from Wuxi, he went to Hong Kong at age 36, and his main investment is in China's mainland. Considering this, we added his father onto the list. This year, we decide to change the method, no matter what his passport is, as long as he invests in China and becomes rich in the mainland. He should be mainland's entrepreneur, for instance, Yang Bin, he was born in Shenyang, and grew up in Hong Kong, he went to Holland at 25, and then devoted his career in Shenyang, we should count him in on China's mainland's affluents list according to the actual situation. Xu Wenmao is also the same, he is now a Hong Konger, and was born in Fujian, his investment is in China's mainland, we also put him into mainland's entrepreneurs list.
This year's appraisal standard According to Rupert, there are three standards this year. First, for the listed companies overseas, their stocks will be calculated according to market value, second, companies listed on China's market such as Yongyong, Taitai, their stocks will be calculated according to 25 percent of market value, third, companies that have not listed will be calculated according to net assets.
According to Rupert, the threshold for this year's list is higher than previous. Last year's lowest standard was 42 million RMB for the richest degree, this year the figure is increased to 900 million RMB.
My purpose is to let Europeans and Americans know more about China The list of Forbes is not for publicity but for introducing Chinese people to the Europeans and Americans, to tell them who are running the successful private enterprises.
Rupert said that Forbes values entrepreneurs more, no matter where they are. China's current purchasing capability is listed atop the world, many people pay attention on China. We hope that more and more Europeans and Americans know China, and know more about the stories for pushing China's rapid development, if they know more, prejudice will be further reduced.
What is the most difficult thing for this list? It is to "find people", according to Rupert.
By PD Online Staff Li Yan
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