According to Forbes Asia, Yang Huiyan, 26, the daughter of Yang Guoqiang, the president and one initiator of Country Garden, a large property enterprise in China, has become the richest person in China.
Yang now has a net personal asset of $16 billion, which also makes her the wealthiest lady in Asia. Yang's father transferred the better part of his wealth to her in 2005 in the form of stock shares of Country Garden.
Yang now is responsible for the sourcing and physical distribution of Country Garden, and she is also a member of the board of directors.
Country Garden publicly issued its shares in Hong Kong last April, and 5 billionaires have been generated in the process, including Yang herself.
The total assets of most successful businesspeople in China have greatly increased this year, with the booming of the stock and property market. Each of the 40 persons on the 2007 China Richest List made by Forbes has a personal asset of at least $1 billion, and their total asset has broken $120 billion, 215% more than last year.
Quite a large number of people on the list are from the property industry. That is to say, although the Chinese government is working hard to suppress the overheating housing market, the demand for houses and investment still needs to be met.
(Chinanews.cn October 10, 2007)
