The two sessions of the Communist Party of China (CPC) are being held in Beijing, and the wealth of Chinese tycoons participating in the sessions has increased by an average of 68 percent over the past year, reaching a total value of US$391 billion, which is higher than Hong Kong‘s GDP last year, according to Hurun Parade’s ranking list.
Taiwan‘s “Free Finance” reported on March 5, citing the South China Morning Post, that Ma Huateng, founder and CEO of Tencent Holdings, is the richest entrepreneur attending the “two sessions” of the Communist Party of China this year, currently worth US$74 billion; Qin Yinglin, chairman of Muyuan Foods, who started his career in pig farming, ranks second with a net worth of US$41 billion; third place goes to Ding Lei of NetEase, with a net worth of US$38 billion.
Li Zegui, chairman of Hong Kong’s Cheung Kong Hutchison (CK Holdings), with $34 billion, ranked fourth among the wealthy participants, while Henderson Land chairman Li Ka-kit ranked ninth with $25 billion in assets.
The former is the son of Hong Kong’s richest man, Li Ka-shing, while Li took over the business from his father, Lee Shau-kee.
In addition, Chinese real estate tycoon Yang Guoqiang, chairman of Beyoncé, and Evergrande’s Xu Jiayin ranked sixth and seventh, with fortunes of $33 billion and $31 billion, respectively.
Taiwanese media reported that the Communist Party’s “two sessions” not only set a GDP growth target of more than 6 percent by 2021, but also served as a venue to show off their wealth.
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