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October 11, 2006

The Richest Person in China Is A Woman: Zhang Yin, $3.4 Billion Fortune from Recycling Paper

posted by MR WAVETHEORY at 10/11/2006 08:40:00 PM
Hurun.net writes a great story about the richest people in China (via SCMP). The richest: Zhang Yin, who made her fortune in recycling paper.
  • 49-YEAR OLD ZHANG YIN CHINA NUMBER ONE WITH US$3.4 BILLION
  • RICHEST SELF-MADE WOMAN IN WORLD
  • FIRST WOMAN TO TOP CHINA RICH LIST
  • 15 USD BILLIONAIRES UP FROM 7 LAST YEAR
  • US$100 MILLION CUT-OFF TO MAKE LIST
  • LIST EXPANDED TO 500 INDIVIDUALS UP FROM 400 LAST YEAR

PAPER-recycling entrepreneur Zhang Yin became the first woman to top a ranking of China's richest people, amassing a fortune of $US3.4 billion ($4.6 billion) after her company's shares were listed in Hong Kong and almost tripled in value.

Ms Zhang, 49, whose Nine Dragons Paper Holdings (HKG:2689) buys scrap paper from the US for use in China, vaulted from 36th to replace retail tycoon Huang Guangyu, according to Shanghai-based Hurun Report, which compiles the annual China Rich List.

Ms Zhang's wealth ranks her as the world's richest self-made woman, ahead of global celebrities such as US chat show host Oprah Winfrey and eBay chief executive officer Meg Whitman. The number of women on the list rose by more than half to 35, reflecting their increasing role in an economy that's growing at more than 10 per cent annually.

The top 35 people on the list were all entrepreneurs. She's even wealthier than Oprah Winfrey and Meg Whitman from eBay (Nasdaq EBAY) who come in at $1.4 and $1.5 billion respectively.
Ms Zhang, who owns 72 per cent of Nine Dragons, started the business with her Taiwan-born husband Liu Mingzhong. Her fortune is more than double that of Ms Winfrey, 52, who is estimated to be worth $US1.4 billion by US-based Forbes magazine. Ms Whitman, 49, of eBay is worth $US1.5 billion, according to Forbes.
You don't need to be a dot commer or technopreneur to make a fortune in China. In fact, the report points out:

One of the biggest losers was Chen Tianqiao, 35, chairman of Shanda Interactive Entertainment Ltd., who dropped to No. 24 from No. 3. Chen's assets declined almost by half to US$750 million from US$1.45 billion as Nasdaq-listed Shanda shares slumped after the company said it would offer some online games free.

The report is published by Hurun.net and the full list of the richest people in China is here. Try this for the English version of Hurun.net and the richest people in China.

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3 Comments:

Anonymous feihao said...

It's good to know. I hope Chinese business women and men are growing stronger and stronger.

China wins!

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