DOCSLIB.ORG

Xu Guanju of Transfar Becomes China's Most Generous

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Xu Guanju of Transfar Becomes China's Most Generous ‘Logistics Tycoon’ Xu Guanju of Transfar becomes China’s Most Generous, donating US$430m last year Tencent co-founder Chen Yidan second (again!) with US$320m donation Education is preferred cause, especially alma maters Internet sensation Papi Jiang, 30, youngest on list ‘Real Estate Queen’ Wu Yajun most generous female philanthropist with US$14m donation Leading Authority on China’s wealthy publishes ranking of China’s 100 Most Generous Philanthropists for 14th Year and Hurun Global Chinese Philanthropy List for 4th Year China’s Most Generous Philanthropist Xu Guanju & family donated US$430m to Transfar Charity Foundation last October. The foundation focuses on relieving poverty, health, education and technology, green and ecology, agriculture and rural development, staff development and protection. Tencent co-founder Chen Yidan donated US$320m rank 2nd, setting up the Yidan Award, one of the world's largest education awards in Hong Kong. Real estate tycoon Xu Jiayin of Evergrande donated US$180m ranked 3th, mainly to an area within Guizhou Province, and US$1.5m to Harvard University for research. Total Donations down 45% yoy from last year. Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report said: “Last year Pony Ma's donation drove up the overall level.” Excluding Ma's donation, average donation this year is only 1% lower than last year. Cut-off to Top 100 US$2.1m, up 20% yoy. There are 31 philanthropists who have donated over CNY 100 million, 4 more than last year, the largest number of ‘supersize’ philanthropists in the history of this list. Education was the main cause. Donations to foundation and other social welfare accounted for 20%; poverty reduction up 6% to 3rd place with 17%; culture was the same as last year, with 6% in 4th place. Rupert Hoogewerf said, “Education and disaster relief make up half the donations on average. This past year we had no major disasters, so education dominated.” Within Education, the Alma Mater was the preferred cause, led by the University of Electronic Science and Technology of China, Beihang University and Wuhan University, the other donation of more than 100 million is Tsinghua University, Sichuan University, Nankai University, Northwestern Polytechnical University and Zhengzhou University are the most amount. 73 new philanthropists on the list, 4 more than last year and led by this year’s Number One Xu Guanju & family, and Chen Tianqiao & Luo Qianqian of Shanda, who donated US$115m. Guangdong and Fujian philanthropists led with 17 people still rank first. Jiangsu ranks the third, with 8 philanthropists, followed by Zhejiang with 7. Guangdong as the company’s headquarters region which set up by the most 1 / 16 philanthropists, with 25. Beijing followed with 16. Hong Kong and Shanghai rank third, with 10. By cities, Beijing on the top, Shenzhen 2nd, Shanghai 3rd. Real estate, investment and IT are still top 3 industries that most philanthropists are doing, making up 60% of the list. Property is up 5 places from last year, with 40 persons. The financial and investment fell 6 persons to 27. IT industry is up 2 persons, with 15. 6 out of 10 (59 persons) on the list are also topped on the Hurun Rich List 2016, which is up 3 persons from last year. Rupert Hoogewerf said, “The wealth and charity of these people are relatively transparent.” The average donation of philanthropists is only 0.5% of their average wealth, only one- third of last year. Rupert Hoogewerf said, “Chinese most generous philanthropists donate about 1% of the total personal wealth, while ordinary high-net worth donors should be 1% of the investable assets." 53 came from listed companies, up from 9 persons. 16 are female philanthropists, 2 more than last year, less than ratio in the Hurun Rich List (24%). 30% have high political appointments (either NPC or CPPCC at the national level), p by half from last year, while still higher than 9.4% of the Hurun Rich List. (8 June 2017, Shanghai) The Hurun Research Institute today released Hurun Philanthropy List 2017, a ranking of the 100 most generous individuals from Mainland China. Donations were measured by the value of their cash or cash equivalent from 1 April 2016 to 31 March 2017. 2017 is the 14th consecutive year of Hurun Philanthropy List and 4th year of Hurun Global Chinese Philanthropy List. Domestic entrepreneurs are increasingly making overseas donations and 6 entrepreneurs have donated tens of millions overseas. Chen Yidan donated US$320m ranks 2nd, to set up the world's largest education award “Yidan Award” in Hong Kong. Huang Rulun donated US$29m to help the Philippines build a drug rehabilitation facility, in the name of Century Golden Resources. Xu Jiayin donated US$1.5m to Harvard University for health, science and green technology research. Rupert Said, “Generally speaking, entrepreneurs in China are still busy making their money. The Number 100 on the Hurun Rich List has shot up seven times, but the Number 100 of the Hurun Philanthropy List has stayed the same, at US$2m.” This is a brief English language summary of the full Chinese press release which can be found at www.hurun.net. For media enquiries please contact our public relations team whose contact details can be found at the end of this report. Top 10 philanthropists Name Donation $m Cause Company Age 1 * Xu Guanju & family 430 Social welfare Chuanhua 56 2 - Chen Yidan 320 Education Tencent 46 Poverty alleviation, 3↑ Xu Jiayin 180 Social welfare, Evergrande 59 Education, Culture 2 / 16 Poverty 4↑ Lu Zhiqiang 165 alleviation, FanHai 65 Education Chen Tianqiao & 5 * 115 Medical aid Shanda 44 Luo Qianqian Poverty Wang Jianlin & 6↓ 92 alleviation, Wanda 63 family Social welfare Education, Poverty Century 7↓ Huang Rulun 65 alleviation, Golden 66 Public Resources infrastructure Public 8 * Hu Baosen 65 infrastructure, Henan Jianye 67 Education Poverty Yang Guoqiang & alleviation, Country 9 * 64 62, 36 Yang Huiyan Social welfare, Garden Education 10 * Xiong Xinxiang 56 Education 49 Source: Hurun Research ↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New Half to top 10 philanthropists donated for education and poverty. 70% are from real estate and financial industry, 2 individuals are from IT. Cut-off of top 10 up 50% than last year. Breakdown by place of birth No. of people Most generous Donation ratio on the Birthplace (change） philanthropist whole list 1 Fujian 17（+9） Huang Rulun* 13.5% 1 Guangdong 17（+5） Chen Yidan 22.9% Liu Qiangdong & 3 Jiangsu 8（+3） 2.2% Zhang Zetian 4 Zhejiang 7（-5） Xu Guanju & family 24.9% 5 Shanghai 4（+2） Yang Hongyu 0.6% 6 Hubei 3（-2） Lei Jun 1.3% 6 Shandong 3（+1） Lu Zhiqiang* 8.4% Wang Jianlin & 6 Sichuan 3（+1） 4.4% family * 6 Henan 3（+1） Xu Jiayin* 10.6% 6 Shanxi 3（+3） Shi Guilu 0.5% 11 Hunan 2（-2） Fu Jun* 0.6% 12 Hebei 1（-2） Liu Ruyin 0.4% 3 / 16 12 Beijing 1（-1） Cui Ruzhuo* 0.2% Dai Yongge & 12 Heilongjiang 1（-1） 0.1% family 12 Ningxia 1（+1） Dang Yanbao 1.9% 12 Anhui 1（+1） Jin Xiandong 0.2% 12 Hong Kong 1（+1） Peng Linji 0.1% 12 Chongqing 1（+1） Liu Qiang 2.5% Source: Hurun Research *also most generous philanthropist in the last year Breakdown by Headquarters No. of people Donation Headquarter Most generous philanthropist ratio on the (change） whole list 1 Guangdong 25（+4） Chen Yidan 30.3% 2 Beijing 16（-9） Lu Zhiqiang 18.6% 3 Hong Kong 10（+6） Chen Jingwei 3.2% 3 Shanghai 10（-2） Chen Tianqiao & Luo Qianqian 9.5% 5 Fujian 8（+3） Han Guolong & family 3.6% 5 Zhejiang 8（+0） Xu Guanju & family 19.9% 7 Jiangsu 7（+4） Zhu Yongning 1.5% 8 Chongqing 4（+4） Xiong Xinxiang 4.3% 9 Sichuan 3（+2） You Zhisheng, Yang Hongyu 0.7% 10 Shandong 2（+2） Jiang Bin 1.4% 10 Henan 2（+2） Hu Baosen 3.1% 10 Shanxi 2（+2） Shi Guilu 0.4% 10 Guizhou 2（+2） Xiao Chunhong 1.0% 14 Ningxia 1（+1） Dang Yanbao 1.9% 14 Heilongjiang 1（+1） Dai Yongge & family 0.1% 14 Hubei 1（-4） Wu Shaoxun* 0.5% Source: Hurun Research *also most generous philanthropist in the last year Donation Cause Cause 2017 2016 2015 2014 2013 2012 2011 2010 2009 2004 Education 44% 46% 44% 27% 34% 36% 24% 26% 18% 39% Social 20% 20% 26% 20% 26% 32% 29% 20% 15% 7% welfare Poverty 17% 11% 9% 11% 15% 20% 9% 10% 10% 15% alleviation Disaster 3% 3% 5% 19% 1% 3% 26% 28% 43% 27% relief Other 16% 19% 17% 23% 24% 9% 12% 16% 14% 12% Source: Hurun Research 4 / 16 * Social welfare includes charitable foundation & etc. Stats from the Hurun Philanthropy List Total Average No. of Top 50 Top Donation Donation Average age indiv Cut-Off Philanthropist s US$m US$m US$m Xu Guanju & 2017 100 2,349 22.8 5.7 55 family 2016 100 4,619 46 5.1 Ma Huateng 55 2015 100 3,310 33 4.6 Jack Ma 55 2014 100 3,238 32 5 Jack Ma 55 2013 100 898 8.9 4.8 Huang Rulun 53 2012 100 1,600 16 6.3 Cao Dewang 51 & family 2011 100 1,920 19 4.8 Cao Dewang 52 & family 2010 100 1,300 26 1.7 Yu Pengnian 53 2009 50 620 12 2.3 Huang Rulun 52 2005- …. …. …. …. …. 2008 2004 50 160 3 0.5 Huang Rulun 48 Source: Hurun Research Largest donations by Global Chinese alive today There are now 58 Chinese who have donated more than CNY 500 million in their lifetime, up 7.
Load more

Recommended publications
  • 2016 Sateri Sustainability Report I 1
    2016 Sateri Sustainability Report I 1 2016 Sateri Sustainability Report 2016 Sateri Sustainability Report I 2 Contents 03 About the Report 04 The CEO’s Message 05 About Sateri 08 Sustainability Management 09 Sustainability Vision 10 Sustainability Policy 11 Sustainability Strategy 13 Sustainability Goals 16 Materiality Analysis 17 Stakeholder Engagement 18 Our Customers and Business Partners 20 Care for Customers and Consumers 26 Care for Business Partners 32 Our Environment 34 Environmental Management 37 Environmental Operations 48 Our Community and Employees 50 Care for Employees 56 Care for the Community 62 Outlook 2017 63 Assurance Statement 65 GRI Index 2016 Sateri Sustainability Report I 3 About the Report This Sustainability Report for 2016 is the first by Sateri, a global leader in the responsible and sustainable production of viscose from plantation wood and a member of the Royal Golden Eagle (RGE) group of resources-based companies. The report states Sateri’s sustainability philosophy and strategy and summarises our sustainability performance and practices in 2016. Sateri believes it is crucial to communicate with all stakeholders and we hope this report helps to promote better understanding of our sustainability efforts and collaborations to build win-win relationships. Reporting Period The reporting period is Jan 1, 2016 to Dec 31, 2016 – not including Linz (Nanjing) Viscose Yarn Co., Ltd. Sateri acquired a majority stake in Linz (Nanjing) in May 2016, so its reporting period runs from June to December 2016. The report will be published every year. Scope of the Report The report covers: • Sateri’s Shanghai headquarters • Sateri’s three viscose mills in China: Sateri (Jiangxi) Chemical Fibre Co., Ltd.
    [Show full text]
  • Wilmar International Singapore
    Wilmar International Singapore Sectors: Agriculture for Palm Oil Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Oct 8 2020 Sectors Agriculture for Palm Oil Headquarters Ownership listed on Singapore Stock Exchange (SGX) Major shareholders of Wilmar include Kuok Khoon Hong, Robert Kuok and Martua Sitorus. Wilmar's complete share holder structure can be viewed here. Subsidiaries Kencana Group – Singapore (profile) Website http://www.wilmar-international.com/ About Wilmar International Wilmar International, founded in 1991, is one of the world's largest agribusinesses and the world's largest palm oil trader. Wilmar was established by Kuok Khoon Hong of Malaysia and Martua Sitorus of Indonesia. In June 2007, Wilmar International completed a major merger with the palm oil and edible oil operations of the Kuok Group. Wilmar is involved in a wide range of operations, including oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilisers as well as flour and rice milling. As of 31 December 2018, Wilmar owns 230,409 hectares of oil palm, 67% of which is located in Indonesia, 25% in East Malaysia and 8% in Africa. Wilmar manages 35,799 hectares oil palm plantations under smallholder’s schemes in Indonesia and Africa. In 2018 the company produced over 4.1 million tonnes of oil palm. In addition, it traded 24.3 million tonnes of oil palm to over fifty countries. Latest developments World’s largest palm oil trader linked to rainforest destruction twice the size of Paris Jun 25 2018 Wilmar International announces its no deforestation, no peat, no exploitation policy Dec 5 2013 Why this profile? The world's largest palm oil trader, Wilmar International (via its subsidiaries), is involved in deforestation and violating rights of communities.
    [Show full text]
  • Average Net Worth of Billionaires by Country: 2013 Hurun Rich List
    Average Net Worth of Billionaires by Country: 2013 Hurun Rich List B. C. Forbes, the founder of Forbes magazine, published the most authoritative and first ever list of 30 wealthiest Americans on March 2, 1918. John D Rockefeller, America’s first billionaire, heads this first ever list, with a fortune of $1.2 billion. Then, in 1982 Forbes started publishing the list of 400 wealthiest Americans which changed the way Americans look at the very rich. The first 400 list in 1982 had only 13 billionaires and a net worth $75 million was enough to secure a spot, Ref. [4]. By 2006, all 400 spots were occupied by billionaires. Following the financial crisis of 2008, when many billionaires saw their fortunes plunge, the minimum net worth to enter the list had fallen below $1 billion (to $950 million) but was back up to $1 billion by 2010; see Ref. [4]. In 2011, the price for entry was $1.05 billion, Ref. [5]. Table 1: Comparison of the Forbes and Hurun Rich lists Forbes 2013 Hurun 2013 Billionaires Rich List Worldwide billionaires, N 1426 1453 Number of countries 64 56 Combined worldwide wealth, UN $5.425 trillion $5.491 trillion US billionaires, N 442 409 US combined net worth, UN $1.872 trillion $1.712 trillion Chinese billionaires, N 122 317 Chinese combined net worth $262.91 billion $810.1 billion About $550 billion added to Chinese wealth and $160 billion taken away from US wealth, implying a significant difference in the wealth distribution among billionaires from the other countries (56 versus 64) in these two lists.
    [Show full text]
  • Qualcomm Says It's Here to Stay in China
    War looming Big stake Wanda prepares for battle Perfect link Chinese groups buy 65% with ‘old brand’ Walt Disney Initiative connects Chinese share in MP & Silva > PAGE 16 with UK expertise> PAGE 14 > PAGE 17 BUSINESS 13 CHINA DAILY » CHINADAILY.COM.CN/BUSINESS Thursday, May 26, 2016 TECH POLICY Buffer period given on taxing imported goods sold online By MENG JING early April on cross­border year window to rethink their [email protected] e­commerce activities. procedures and plan well Customs officials were una­ ahead, said Lu. E­commerce companies have vailable to comment on the China started levying taxes been given a one­year buffer latest move on Wednesday, immediately on retail sales on period to rethink their cross­ but Beijing­based JD.com Inc cross­border e­commerce plat­ border strategies, after the gov­ and another major e­com­ forms in early April, as well as ernment released new merce platform, which asked placing stricter regulations on regulations,whicheasecontrols not to be named, both con­ gaining import permits for introduced in April on certain firmed they had received the goods sold online. imported goods sold online. reprieve notice. The aim was to create a The country's customs Lu Zhenwang, an e­com­ more level­playing field, said authoritysaiditwillcontinueto merce expert and chief execu­ officials, for e­commerce plat­ allow the direct import of cos­ tive officer of Shanghai­based forms and traditional retailers metics, baby formula, medical Wanqing Consultancy,said the and importers. equipment and healthcare­re­ April regulation required The regulations, however, lated food in 10 pilot cities, e­commerce companies to triggered mixed reactions without permission, or the fil­ obtaincertificatesfirstinorder among buyers and sellers, ing of special applications.
    [Show full text]
  • RGE Chairman Sukanto Tanoto Addresses Wharton Students in Asia for Course on Sustainable Growth in ASEAN
    RGE Chairman Sukanto Tanoto Addresses Wharton Students in Asia for Course on Sustainable Growth in ASEAN SINGAPORE, May 27, 2015 – RGE welcomed about 50 EMBA and MBA students from the Wharton School of the University of Pennsylvania as they commenced their 5-day visit to Singapore, Malaysia, and Indonesia as part of their Global Modular Course on 'Sustainable Growth in ASEAN'. RGE Chairman, Sukanto Tanoto, addresses visiting Wharton students Addressing the students in Singapore on May 25 as keynote speaker, RGE's Founder and Chairman Sukanto Tanoto spoke about how he scaled and diversified his businesses, which now occupy strategic points in the resource-based manufacturing value chain. With almost 50 years of successful entrepreneur experience under his belt, Mr Tanoto shared candidly about his journey as an entrepreneur, including how he survived the Asian Financial Crisis in the late 1990s, and sought to diversify his business after the crisis. He cited building diverse teams with multiple skill sets, focusing on technology and innovation, and creating shared value and the "3C" values, as success factors that underpin each of RGE's business groups. "We continue to embrace the 3Cs in everything we do: Good for Community, Good for Country, Good for Company. If we do what is good for the community and country, the company will benefit," said Mr Tanoto. The 3Cs are evident in his companies' work, which includes creating direct and indirect employment, partnering and empowering smallholders, developing the communities and infrastructure in its areas of operations, and implementing state-of-the art technologies for sustainability and competitive advantage.
    [Show full text]
  • Calendar 2019-2020
    Lingnan University Digital Commons @ Lingnan University Lingnan University Calendar Lingnan University (Hong Kong) : Publications 2019 Lingnan University : calendar 2019-2020 Lingnan University Follow this and additional works at: https://commons.ln.edu.hk/lingnan_calendar Part of the Education Commons Recommended Citation Lingnan University (2019). Lingnan University : calendar 2019-2020. Hong Kong: Lingnan University. This Book is brought to you for free and open access by the Lingnan University (Hong Kong) : Publications at Digital Commons @ Lingnan University. It has been accepted for inclusion in Lingnan University Calendar by an authorized administrator of Digital Commons @ Lingnan University. Address: Tuen Mun, Hong Kong Telephone: (852) 2616 8888 Facsimile: (852) 2463 8363 Website: http://www.LN.edu.hk 2019-2020 CALENDAR ii Academic Calendar Academic Calendar 2019-2020 Sun Mon Tue Wed Thu Fri Sat Events 1 2 3 4 5 6 7 8 9 10 7-8: Reporting Days for new UG admittees 11 12 13 14 15 16 17 18 19 20 21 22 23 24 19: Registration - new UG students 25 26 27 28 29 30 31 20: Last day for tuition payment - current UG students 21-23: New Student Orientation AUG 2019 29: First day for course add/drop, change of course sections, full/part-time status and study programmes for UG students 29: Last day for submission of UG credit transfer/course exemption applications (for current students) 1 2 3 4 5 6 72: Academic Year 2019-20 starts; TERM 1 CLASSES BEGIN 8 9 10 11 12 13 14 7: Last day for course add/drop, change of course sections, full/part-time
    [Show full text]
  • Incentives in China's Reformation of the Sports Industry
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Keck Graduate Institute Claremont Colleges Scholarship @ Claremont CMC Senior Theses CMC Student Scholarship 2017 Tapping the Potential of Sports: Incentives in China’s Reformation of the Sports Industry Yu Fu Claremont McKenna College Recommended Citation Fu, Yu, "Tapping the Potential of Sports: Incentives in China’s Reformation of the Sports Industry" (2017). CMC Senior Theses. 1609. http://scholarship.claremont.edu/cmc_theses/1609 This Open Access Senior Thesis is brought to you by Scholarship@Claremont. It has been accepted for inclusion in this collection by an authorized administrator. For more information, please contact [email protected]. Claremont McKenna College Tapping the Potential of Sports: Incentives in China’s Reformation of the Sports Industry Submitted to Professor Minxin Pei by Yu Fu for Senior Thesis Spring 2017 April 24, 2017 2 Abstract Since the 2010s, China’s sports industry has undergone comprehensive reforms. This paper attempts to understand this change of direction from the central state’s perspective. By examining the dynamics of the basketball and soccer markets, it discovers that while the deregulation of basketball is a result of persistent bottom-up effort from the private sector, the recentralization of soccer is a state-led policy change. Notwithstanding the different nature and routes between these reforms, in both sectors, the state’s aim is to restore and strengthen its legitimacy within the society. Amidst China’s economic stagnation, the regime hopes to identify sectors that can drive sustainable growth, and to make adjustments to its bureaucracy as a way to respond to the society’s mounting demand for political modernization.
    [Show full text]
  • WIC Template 13/9/16 11:52 Am Page IFC1
    In a little over 35 years China’s economy has been transformed Week in China from an inefficient backwater to the second largest in the world. If you want to understand how that happened, you need to understand the people who helped reshape the Chinese business landscape. china’s tycoons China’s Tycoons is a book about highly successful Chinese profiles of entrepreneurs. In 150 easy-to- digest profiles, we tell their stories: where they came from, how they started, the big break that earned them their first millions, and why they came to dominate their industries and make billions. These are tales of entrepreneurship, risk-taking and hard work that differ greatly from anything you’ll top business have read before. 150 leaders fourth Edition Week in China “THIS IS STILL THE ASIAN CENTURY AND CHINA IS STILL THE KEY PLAYER.” Peter Wong – Deputy Chairman and Chief Executive, Asia-Pacific, HSBC Does your bank really understand China Growth? With over 150 years of on-the-ground experience, HSBC has the depth of knowledge and expertise to help your business realise the opportunity. Tap into China’s potential at www.hsbc.com/rmb Issued by HSBC Holdings plc. Cyan 611469_6006571 HSBC 280.00 x 170.00 mm Magenta Yellow HSBC RMB Press Ads 280.00 x 170.00 mm Black xpath_unresolved Tom Fryer 16/06/2016 18:41 [email protected] ${Market} ${Revision Number} 0 Title Page.qxp_Layout 1 13/9/16 6:36 pm Page 1 china’s tycoons profiles of 150top business leaders fourth Edition Week in China 0 Welcome Note.FIN.qxp_Layout 1 13/9/16 3:10 pm Page 2 Week in China China’s Tycoons Foreword By Stuart Gulliver, Group Chief Executive, HSBC Holdings alking around the streets of Chengdu on a balmy evening in the mid-1980s, it quickly became apparent that the people of this city had an energy and drive Wthat jarred with the West’s perception of work and life in China.
    [Show full text]
  • Coming Back Home After the Sun Rises: Returnee Entrepreneurs and Growth of High Tech Industries
    G Model RESPOL-2772; No. of Pages 17 ARTICLE IN PRESS Research Policy xxx (2012) xxx–xxx Contents lists available at SciVerse ScienceDirect Research Policy jou rnal homepage: www.elsevier.com/locate/respol Coming back home after the sun rises: Returnee entrepreneurs and growth of high tech industries a,b c,∗ d Martin Kenney , Dan Breznitz , Michael Murphree a Department of Human and Community Development, University of California, Davis, United States b Berkeley Roundtable on the International Economy, United States c The Scheller College of Business, Georgia Institute of Technology, United States d Sam Nunn School of International Affairs, Georgia Institute of Technology, United States a r t i c l e i n f o a b s t r a c t Article history: Recently, the role of returnees in the economic development of various East Asian nations has received Received 6 November 2011 much attention. The early literature on the relocation of the most highly trained individuals from a devel- Received in revised form 30 July 2012 oping nation to a developed nation viewed the phenomena as a “brain drain.” Since the 1990s, a new Accepted 4 August 2012 strand of thinking has suggested that for developing nations this was actually a positive phenomenon; as Available online xxx these expatriates studied and then worked abroad, they absorbed technical expertise, managerial, and entrepreneurial skills. These theories stipulated that these expatriates then returned home, and ignited Keywords: a virtuous circle of technological entrepreneurship leading to rapid economic development. Much of this High skilled immigrants Innovation literature gives returnees a critical role in the home country’s take-off period of the local information and communications technology (ICT) industry.
    [Show full text]
  • Renhe Commercial Holdings Company Limited 人 和 商 業 控 股 有 限 公 司* (Incorporated in the Cayman Islands with Limited Liability) GLOBAL OFFERING
    IMPORTANT If you are in any doubt about any of the contents of this prospectus, you should seek independent professional advice. Renhe Commercial Holdings Company Limited 人 和 商 業 控 股 有 限 公 司* (incorporated in the Cayman Islands with limited liability) GLOBAL OFFERING Number of Offer Shares pursuant to : 3,000,000,000 (subject to adjustment and the Over- the Global Offering allotment Option) Number of Hong Kong Offer Shares : 300,000,000 (subject to adjustment) Number of International Offer Shares : 2,700,000,000 (subject to adjustment and the Over- allotment Option) Maximum Offer Price : Not more than HK$1.71 per Offer Share payable in full on application in Hong Kong dollars, subject to refund, plus brokerage of 1%, SFC transaction levy of 0.004%, and Stock Exchange trading fee of 0.005% Nominal value : HK$0.01 each Stock Code : 1387 Joint Global Coordinators, Joint Bookrunners, Joint Sponsors and Joint Lead Managers (in alphabetical order) The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus. A copy of this prospectus, together with the documents specified under the paragraph headed ‘‘Documents Delivered to the Registrar of Companies in Hong Kong and Available for Inspection’’ in Appendix VIII to this prospectus, has been registered with the Registrar of Companies in Hong Kong as required by section 342C of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong).
    [Show full text]
  • China Consumer Close-Up
    January 13, 2015 The Asian Consumer: A new series Equity Research China Consumer Close-up The who, what and why of China’s true consumer class Few investing challenges have proven more elusive than understanding the Chinese consumer. Efforts to translate the promise of an emerging middle class into steady corporate earnings have been uneven. In the first of a new series on the Asian consumer, we seek to strip the problem back to the basics: Who are the consumers with spending power, what drives their consumption and how will that shift over time? The result is a new approach that yields surprising results. Joshua Lu Goldman Sachs does and seeks to do business with +852-2978-1024 [email protected] companies covered in its research reports. As a result, Goldman Sachs (Asia) L.L.C. investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Sho Kawano Investors should consider this report as only a single factor +81(3)6437-9905 [email protected] Goldman Sachs Japan Co., Ltd. in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Becky Lu Appendix, or go to www.gs.com/research/hedge.html. +852-2978-0953 [email protected] Analysts employed by non- US affiliates are not registered/ Goldman Sachs (Asia) L.L.C. qualified as research analysts with FINRA in the U.S. January 13, 2015 Asia Pacific: Retail Table of contents PM Summary: A holistic view of the Asian consumer 3 China’s cohort in a regional context (a preview of India and Indonesia) 8 What they are buying and what they will buy next: Tracking 7 consumption desires 11 Seven consumption desires in focus 14 1.
    [Show full text]
  • Robert Kuok Hock Nien's Personal Thoughts on Wealth and Capitalism Bahru
    Robert Kuok Hock Nien's personal thoughts on wealth and capitalism http://singaporegirl.wordpress.com Bahru. Present were my MOTHER, cousin number five HOCK CHIN, Tan Sri Robert Kuok Hock Nien (born 6 October 1923, in Johor Bahru, cousin number twelve HOCK SENG, my brother HOCK KHEE nicknamed Johor), is an influential Malaysian Chinese businessman. According to Philip (a.k.a. cousin number seventeen), and myself (a.k.a. cousin Forbes his net worth is estimated to be around $10 billion on May number twenty). We sat down and Mother said, "Nien, would you like 2008, making him the richest person in Southeast Asia. to start?" I said, "Fine, yes I will start." To cut the long story short, we got started, and commenced business from a little shop house in He is media shy and discreet; most of his businesses are privately held Johore Bharu on 1 April 1949. by him or his family. Apart from a multitude of enterprises in Malaysia, his companies have investments in many countries throughout Asia. (4) As a young man, I thought there was no substitute for hard work His business interests range from sugarcane plantations (Perlis and thinking up good, honest business plans and, without respite, Plantations Bhd), sugar refinery, flour milling, animal feed, palm oil pushing them along. There will always be business on earth. Be and mining to finance, hotels, properties, trading and freight and humble; be straight; don't be crooked; don't take advantage of people. publishing. To be a successful businessman, I think you really need to brush all your senses every morning, just as you brush your teeth.
    [Show full text]