The majority of China’s billionaires sent their kids abroad for education, an international outlook, to prepare to take over their business later, tells HURUN China Rich list founder Rupert Hoogewerf in the China Daily.
The China Daily:
One of the biggest trends among the first generation of Chinese billionaires is that almost 90 percent of their children study overseas, said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report.
“They are looking to prepare their children to run their business for the next 20 to 30 years,”Hoogewerf said. “Their children are not only learning the best of China, but also have a global outlook.”
According to the Hurun Research Institute, many of them have already started to take over part of their parents’ work.
With a fortune of 36 billion yuan, 31-year-old Yang Huiyan, the daughter of the founder of the property company, Country Garden (Holdings) Ltd, is the richest second-generation of billionaire, according to Hurun Research Institute.
The son of the founder of the steel giant, Highsee Iron and Steel Group Co Ltd, Li Zhaohui, 31,ranks second, with a wealth of 12 billion yuan.
Why are the Chinese leaving China, wondered the China Weekly Hangout in September 2012? Present were lawyer Li Meixian, blogger Isaac Mao and business professor Richard Brubaker. Moderation by president of the China Speakers Bureau, Fons Tuinstra.
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