China's Richest Woman's Wealth Rose by $2 Billion in 4 Days
(Bloomberg) -- A share surge at Country Garden Holdings Co., China's largest developer by sales, has sent Vice Chairman Yang Huiyan's wealth up by $2.1 billion -- and that's just in the first four trading days of the year.
Yang, controlling shareholder of Country Garden, saw her fortune soar to $25.6 billion as of Jan. 5 to rank as the fifth-richest person in the nation, according to the Bloomberg Billionaires Index. That's before Country Garden's shares rose another 7.4 percent on Monday in Hong Kong trading, taking its year-to-date-gain to 17 percent.
The 36-year-old Yang is China's richest woman and the nation's youngest billionaire, according to the Bloomberg index. In 2005, her father transferred his controlling stake to her “due to his intention to train Yang Huiyan as the successor of his family's interest” in the group, Country Garden said in its 2007 initial public offering prospectus.
Her father Yang Guoqiang, usually known by his Cantonese name Yeung Kwok Keung, co-founded Country Garden in 1992.
Country Garden has been one of the beneficiaries of a boom in China's property market, which has led to buoyant earnings and soaring sales, especially for the nation's largest developers. The company reported preliminary 2017 contracted sales of 550.8 billion yuan ($85 billion) on Friday, exceeding the 500 billion yuan target it provided in August.
Read more on China's sizzling property stocks
Chinese developers including China Evergrande Group have also rallied in Hong Kong trading, boosting the fortunes of their executives. Evergrande's Hui Ka Yan, whose wealth is estimated at $38.2 billion by the Bloomberg Billionaires Index, is China's third-richest individual after Alibaba's Jack Ma and Tencent's Pony Ma.
--With assistance from Pei Yi Mak Zhang Dingmin and Ben Scent
To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Hong Kong at sbhaktavatsa@bloomberg.net.
To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Paul Panckhurst
©2018 Bloomberg L.P.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
