Logistics Tycoon Xu Guanju of Transfar becomes China s Most Generous, donating US$430m last year

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1 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 14 th Year and Hurun Global Chinese Philanthropy List for 4 th Year China s Most Generous Philanthropist Xu Guanju & 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 2 nd, setting up the Yidan Award, one of the world's largest education awards in. Real estate tycoon Xu Jiayin of Evergrande donated US$180m ranked 3 th, 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 accounted for 20%; poverty reduction up 6% to 3 rd place with 17%; culture was the same as last year, with 6% in 4 th 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 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 &, 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

2 philanthropists, with 25. Beijing followed with 16. and Shanghai rank third, with 10. By cities, Beijing on the top, Shenzhen 2 nd, Shanghai 3 rd. 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 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 onethird 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 is the 14 th consecutive year of Hurun Philanthropy List and 4 th 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 2 nd, to set up the world's largest education award Yidan Award in. 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 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 & 430 Chuanhua Chen Yidan 320 Education Tencent 46 3 Xu Jiayin 180, Evergrande 59 Culture 2 / 16

3 4 Lu Zhiqiang * 6 Chen Tianqiao & Luo Qianqian Wang Jianlin & Education FanHai Medical aid Shanda Huang Rulun 65 8 * Hu Baosen 65 9 * Yang Guoqiang & Yang Huiyan 64 re re, Education, Education Wanda 63 Century Golden Resources 66 Henan Jianye 67 Country Garden 10 * Xiong Xinxiang 56 Education 49 Rank increase yoy Rank decrease yoy - No Rank change yoy * New 62, 36 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 Birthplace No. of people Most generous Donation ratio on the (change) philanthropist whole list 1 Fujian 17(+9) Huang Rulun* 13.5% 1 Guangdong 17(+5) Chen Yidan 22.9% 3 Jiangsu 8(+3) Liu Qiangdong & Zhang Zetian 2.2% 4 Zhejiang 7(-5) Xu Guanju & 24.9% 5 Shanghai 4(+2) Yang yu 0.6% 6 Hubei 3(-2) Lei Jun 1.3% 6 Shandong 3(+1) Lu Zhiqiang* 8.4% 6 Sichuan 3(+1) Wang Jianlin & * 4.4% 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

4 12 Beijing 1(-1) Cui Ruzhuo* 0.2% 12 Heilongjiang 1(-1) Dai Yongge & 0.1% 12 Ningxia 1(+1) Dang Yanbao 1.9% 12 Anhui 1(+1) Jin Xiandong 0.2% 12 1(+1) Peng Linji 0.1% 12 Chongqing 1(+1) Liu Qiang 2.5% *also most generous philanthropist in the last year Breakdown by Headquarters Headquarter No. of people (change) Most generous philanthropist Donation ratio on the whole list 1 Guangdong 25(+4) Chen Yidan 30.3% 2 Beijing 16(-9) Lu Zhiqiang 18.6% 3 10(+6) Chen Jingwei 3.2% 3 Shanghai 10(-2) Chen Tianqiao & Luo Qianqian 9.5% 5 Fujian 8(+3) Han Guolong & 3.6% 5 Zhejiang 8(+0) Xu Guanju & 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 yu 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 & 0.1% 14 Hubei 1(-4) Wu Shaoxun* 0.5% *also most generous philanthropist in the last year Donation Cause Cause Education 44% 46% 44% 27% 34% 36% 24% 26% 18% 39% 20% 20% 26% 20% 26% 32% 29% 20% 15% 7% 17% 11% 9% 11% 15% 20% 9% 10% 10% 15% Disaster relief 3% 3% 5% 19% 1% 3% 26% 28% 43% 27% Other 16% 19% 17% 23% 24% 9% 12% 16% 14% 12% 4 / 16

5 * includes charitable foundation & etc. Stats from the Hurun Philanthropy List Total Average No. of Donation Donation indiv s US$m US$m Top 50 Cut-Off US$m Top Philanthropist , Xu Guanju & , Ma Huateng , Jack Ma , Jack Ma Huang Rulun , Cao Dewang & , Cao Dewang & , Yu Pengnian Huang Rulun Huang Rulun 48 Average age 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. Among them, the largest number came from mainland China, with 31, up 6 individuals from last year. In, there are 14 persons, two more than last year. America has five, just as it did last year; Taiwan has five, up one place from last year. Macau, Indonesia and Singapore each. Philanthropists who have donated CNY 10bn or more Headquarter Name Company Age s Jack Ma Alibaba 53 Hangzhou Birthplace Hangzhou, Zhejiang Li Ka-shing Cheung 89 Shantou Pony Ma Tencent 46 Shenzhen Shantou Priscilla Chan & Mark Boston, White Facebook 32, 33 Menlo Park Zuckerberg Plains In alphabetically order Philanthropists who have donated between CNY 3bn and CNY 10bn 5 / 16

6 Name Company Age Headquarter Birthplace Cai Chongxin Alibaba 53 Hangzhou Taipei Cao Dewang Fuyao 71 Fuzhou Fuzhou Chen Yidan Tencent 46 Shenzhen Huizhou Guo Taiming Hon Hai 67 Taiwan Jincheng He Qiaonv Oriental Gardens 51 Beijing Xinhua Huang Rulun Century Golden Resources 66 Beijing Henan Li Zhaoji Henderson Land 89 Foshan Lu Zhiqiang * Oceanwide 65 Beijing Weihai Lv Zhihe Galaxy Entertainment 88 Jiangmen Niu Gensheng Mengniu Dairy 59 Hohhot Inner Mongolia Wang Jianlin Wanda 63 Beijing Mianyang Xu Guanju ** Transfar 56 Hangzhou Huizhou Xu Jiayin * Evergrande 59 Guangzhou Zhoukou In alphabetically order * New in this level ** New to the report Philanthropists who have donated between CNY 1bn and CNY 3bn Name Company Age Headquarter Birthplace Dickson Poon Dison 61 Chaozhou Hui Wing Mau Shimao 67 Shanghai Shishi Joseph Lau Chinese Estates 66 Li Dasan Sharp-Roxy 96 Foshan Michael Ying Esprit 68 Wenchang Ronnie Chan Hang Lung 68 Samuel Yin Ruentex 67 Taipei Taipei Tin Ka Ping Tian s 98 Meizhou Tsang Hin-chi Goldlion 84 Meizhou Yang Guoqiang & Yang Huiyan Country Garden 62, 36 Foshan Foshan Zheng Jiachun & New World, Chow Tai Fook 92 Foshan Zhu Mengyi & Hopson/Zhu Jiang 58 Guangzhou Meizhou Investment In alphabetically order 6 / 16

7 Philanthropists who have donated between CNY 500m and CNY 1bn Name Company Age Headquarter Birthplace Chen Fashu Newhuadu 57 Fuzhou Quanzhou Chen Tianqiao** Shanda 44 Shanghai Shaoxing Chen Zhuolin & Family Agile 55 Guangzhou Zhongshan Cyrus Tang Tang Industries 87 Chicago Suzhou Dang Yanbao ** Baofeng 44 Yinchuan Wuzhong Fang Runhua Hip Shing 93 Dongguan Goh Cheng Liang Nipsea / Singapore Singapore Gu Runjin Perfect 58 Zhongshan Kuala Lumpur Robert Kuok Guo shi 94 Johor Bahru Johor Bahru He Hengjian & Midea 75 Foshan Foshan Ho Hung San Sociedade de Jogos de Macau 96 Macao Hou Changcai ** Yuanchang 61 Xiamen Quanzhou Huang Wenzai ** Star River 64 Guangzhou Guangzhou Huang Zhiyuan Sinar Mas 73 Djakarta / Jason Chang & ** ASE 74 Taipei Shanghai Lau Ming-wai Chinese Estates 38 Li Deyi Hengfeng / Oscar L. Tang Tang s 79 New York Shanghai Ou Zongrong Zhenro 53 Fuzhou Putian Ren Yuanlin ** Yangzijiang Shipbuilding 64 Wuxi Wuxi Shi Wen-long Chimei 89 Tainan Tainan Sun Yinhuan Yida 67 Dalian Liaoning Tao Xinbo ** Boli 101 Nanjing Nanjing Wu Shaoxun Jingpai 61 Huangshi Huangshi Xie Ming Mingrui Pharmaceutical 61 Los Angeles / Xu Shihui ** Dali 60 Quanzhou Quanzhou Yang Xiu Tiandi 56 Nanjing Xuzhou Yang Zhiyuan Yahoo! 49 Sunnyvale Taipei Zhang Jindong Suning 54 Nanjing Nanjing In alphabetically order ** New to the report Hurun Non-Mainland Chinese Philanthropy List / 16

8 Chinese-born American Priscilla Chan (32), wife of Mark Zuckerberg is the most non- Mainland Chinese generous philanthropist, Kevin Zhou and his wife, Chen Connie, of mobile game company Kabam, are in 2 nd place with a donation of US$25m to the University of California, Berkeley. Zheng Jiachun of New World made a donation of US$25m in the 3 rd place. 1 * 2 * 3 Name Mark Zuckerberg & Priscilla Chan Zhou Kaiwen & Chen Kangni Henry Cheng & Donatio n $m 1000 Cause Company Age Henderson Land Facebook 33,32 25 Education Kabam * Andrew Tan 23 Medical aid 5 Li Dasan & Ye Yaozhen 6 * Sukanto Tanoto 14 7 * 8 * Robert Kuok & Lam Ko Yin Colin 17 Education Tsang Hin-chi Li Ka-shing * 12 * Jason Chang C.S. & Andrew & Peggy Cherng Gu Runjin Education New World Alliance Global Sharp- Roxy Sateri 68 Kerry 94 Henderso n Land 65 Goldlion 83 Cheung 89 ASE 74 Chain Panda Perfect 58 70,70 Head office Palo Alto San Francisc o Quezon City Singapo re Malaysi a Chinese Taipei Los Angeles Zhongs han 14 * Wei Jicheng 4.0 Medical aid ABC 33 Sydney 15 * Tan Jinqiu Peter Woo 3.7 Wheelock * Yang Songqia 2.3 Emperor 73 Shoucheng n Rank increase yoy Rank decrease yoy *New Place of birth White Plains,/ / Fujian Zhejiang Fujian Malaysia / Guangdo ng Guangdo ng Chinese Taipei / Malaysia Shanghai 8 / 16

9 Hurun Philanthropy List 2017 Chang e in Rank Name Donatio n $m Cause Company Age Head office Place of birth 1 New Xu Guanju & 430 Chuanhua 56 Zhejiang Zhejiang 2 0 Chen Yidan 321 Education Tencent 46 Guangdong Guangdong 3 2 Xu Jiayin 180 Evergrand, e 59 Guangdong Henan Culture 4 3 Lu Zhiqiang New Chen Tianqiao & Luo Qianqian Wang Jianlin & Huang Rulun Education FanHai 65 Beijing Shandong 115 Medical aid Shanda 44 Shanghai Zhejiang New Hu Baosen New Yang Guoqiang & Yang Huiyan Xiong Xinxiang 64 re re, Education, Education Wanda 63 Beijing Sichuan Century Golden Resource s Henan Jianye Country Garden 66 Beijing Fujian 67 Henan Henan 62, 36 Guangdong Guangdong, Guangdong 56 Education Born 49 Chongqing Fujian Xu Jiankang 51 Powerlon g 65 Shanghai Fujian 12 New Dang Baofeng 45 Yanbao Energy 44 Ningxia Ningxia 13 New Liu Qiang 38 Education Born 49 Chongqing Chongqing 14 New Jiang Bin 29 Education GoerTek 51 Shandong Shandong 9 / 16

10 14 New New Han Guolong & Chen Jingwei Xiao Chunhong 29 Citichamp 62 Fujian Fujian 28 Education Jingwei 69 Guangdong 21 Homnicen 49 Guizhou - 18 Ma Yun 20 Education Alibaba Zhejiang Huang 19 New Qisen & 19 Disaster relief 20 New Chen Zhuolin & Ma Huateng New 24 New Liu Qiangdong, Zhang Zetian Yao Zhenhua Zheng Yuewen re, Education, Culture Thaihot 52 Fujian Fujian Agile 55 Guangdong Guangdong Tencent 46 Guangdong Guangdong JD 43 Beijing Jiangsu Baoneng 47 Guangdong Guangdong Creat 55 Beijing Fujian 25 New Zhou Jinting 14 Education Hefu 47 Shanghai Jiangsu 25 New Lei Jun 14 re Xiaomi 48 Beijing Hubei 25 New Zhu Nanda 14 Education Yongning Softech 50 Jiangsu 25 New Wu Yajun 14 Education Longfor 53 Beijing Chongqing 25 New Chen Fashu 14 Education Xinhuadu Industrial 56 Fujian Fujian 25 New Gong Junlong 14 HengYue 58 Guangdong Guangdong 10 / 16

11 25 New New Zhou Haibing & Hou Yin Wu Shaoxun Huang Zhaoyang Zhu Mengyi, Zhu Layi, Zhu Qingyi & Xu Rongmao 14 Education Fu Jun 10 re,, Qiantong Technolo gy - Beijing Jingjiu 61 Hubei Hubei China SCE Property Pearl river, New South, Zhuguang 51 Fujian 58 Guangdong Guangdong 11 Culture Shimao 67 Shanghai Fujian re, poverty Macrolink 60 Beijing Hunan 36 New Zou Zhizhuang 10 Education - 88 Shanghai Guangdong 38 New Liu Ruyin 9.4 Education Cheerland 54 Guangdong Hebei 39 3 Ou, 8.0 Zongrong Disaster relief Zhenro 53 Fujian Fujian Chen Yongjian 7.9 Education Huacheng Internatio n 60 Fujian 41 New Huang 7.4 Wenzai Star River 64 Guangdong Guangdong 42 New Guo Zesen Yide Fujian, 7.3 -, 47 Fujian & Guo Binze Plastic Fujian 43 New Ye Jianming 7.1 Education CEFC 40 Shanghai Fujian 43 New Yang 7.1 yu re Wisesoft 49 Sichuan Shanghai 43-3 Shen Nanpeng 7.1 Education Sequoia Capital 50 Beijing Zhejiang 11 / 16

12 43 New Shi Guilu New 43 New 49 New Zhang Yingcen & Family You Zhisheng Chen Xiaoying re 5.7 Education Li Xianyi 5.7 Education 51 New Cen Zhaoxiong New Guo Dongze New 54 New 55 New Lin Zhong & Family Jin Xiandong Huang Qingmiao & re, poverty Rongmin 52 Shanxi Shaanxi Tianlun Gas 55 Henan Henan Wisesoft 72 Sichuan Sichuan Shentong Express Xinyi Glass Times Property 41 Shanghai Zhejiang 65 Fujian 47 Guangdong Guangdong Antong 42 Fujian Education Xuhui 49 Shanghai Education Alibaba, Ant Financial 45 Zhejiang Anhui 4.6 Education An Tai Cui Ruzhuo 4.5 Culture - 73 Beijing Beijing 57 New Liu Guoyao & Hu Shemei 4.4 Education Keyuan 55, - Jiangsu Jiangsu 58 New Ye Jianrong 4.3 Education Shuiyi 51 Zhejiang Zhejiang Zhang 58 New Xinghai & 4.3 Xiaokang 54 Chongqing Chongqing Family Xue Xingyuan 4.3 Medical aid Xiangxing 55 Fujian Fujian 58 New Li Jingsheng 4.3 Education Jirun - 58 New Zhang Xin 4.3 Medical aid 63 New Li Xiaotong 4.0 New Element ShangHui internatio nal education Guangdong - Guangdong - Fujian, Fujian 12 / 16

13 64 New New Chen tian Chen Dongsheng Feng Bichang New Shen Peijin Yang Zhao 3.6, Education, Culture Culture Cheung Kei China Guardian Guangzho u YiMa 58 Guangdong Guangdong 60 Beijing Hubei - Guangdong - Hanye 38 Shanghai - Glorious Sun 70 Guangdong 69 New Yang Feng 3.6 Culture Huace - Guangdong Guangdong 70-1, Zhang 3.5 Culture, Jindong Disaster relief Suning 54 Jiangsu Jiangsu 71 New Lin Junbo Ji Haipeng 3.4 Education 73 New Chen Xueli 3.2 Medical aid 74 New Jiang Yilei 3.1 Education 75 New 76 New Sun Piaoyang & Zhong Huijuan Yi Jiong & 3.1 Medical aid 77 New Li Dewen 2.9 Education 78 New Zou Chenghui XinHu 46 Zhejiang - Logan Estate Shandong Weigao Chunyu Tinglei Hengrui Medicine 50 Guangdong - 66 Shandong - 30 Jiangsu Shanghai 59 Jiangsu Jiangsu 3.0 Education Tianfu - Shanxi Education 78 New Wu Minwen 2.9 Education 78 New 78 New Dai Yongge & Chen Jinsong Education 78 New Guo Qing 2.9 Education Fujian JinDi Akcome Science Shengshiji ng 57 Fujian Shaanxi 43 Jiangsu Jiangsu 45 Beijing Hunan Renhe 49 Heilongjiang Heilongjiang Worldunio n Nantong Metalform ing Guangdong 58 Jiangsu 13 / 16

14 78 New He Xiangjian 2.9, poverty Equipmen t Midea 75 Guangdong Guangdong 78 New Peng Linji 2.9 Education Clifford 77 Guangdong Aida Jin 78 New 2.9 Education Pharmace - Zhejiang Zhejiang Xiaoyong utical 78 New 78 New Wang Zhiyuan Hao Zhanwei 2.9 Education 2.9 Medical aid 78 New Guo Yuejin 2.9 Education 89 9 Zhang Yin New 91 New New Guo Dongsheng Li Yeshun & Liang Shaozhen Huang Xiaoming & Yang Ying Zhang Chaoyang 2.6 poverty 2.6 Education re 94 New Li Congwen 2.5 Education Yongheng sheng New Element Hou Caller Nine Dragons Paper - Guangdong - Guangdong Guangdong 60 Guangdong Guangdong Antong 39 Fujian Fujian Pengxing Internatio nal - Guangdong - - Beijing Shandong, Shandong Sohu 53 Beijing Shaanxi Wenke Landscap e 48 Guangdong - 95 New Lin 2.3 Education Geygegu - Shanghai - 95 New Qian Zhang 2.3 liche ng - Guizhou - 97 New Huang yun New Pan Lichun 2.1 Jinke - Chongqing Chongqing UniTTEC Technolo gy 49 Zhejiang Tang Lixin 2.1 Education Shinesun 54 Sichuan Sichuan 14 / 16

15 98-64 Zhu Gongshan 2.1 Disaster relief Golden Concord Holdings 59 Jiangsu 98 New Rong Zhijian 2.1 Education Citic Pacific 98 New Li Xiaobo 2.1 Education Xinwei - Beijing - 75 Shanghai Methodology To put together a comprehensive list of the largest philanthropists of China is an almost impossible task. However, we believe that the Hurun Philanthropy List, published since 2004, is the most serious and authoritative effort to date, identifying the individuals and highlighting the causes they donate to. To make this list, the Hurun Research Institute surveyed 3000 of China s most successful entrepreneurs, including the 2056 from the recently released Hurun China Rich List 2016 and the 609 Chinese from the Hurun Global Rich List 2017, meticulously cross referencing the results with media reports and charitable foundations. In the course of the research, Hurun Research Institute attended non-profit-related seminars, as well as meeting with scholars, experts, philanthropists and senior members of charitable foundations. Hurun Research includes cash and cash equivalents pledged with legally binding commitments for the twelve month period from 1 April 2016 to 31 March When comparing previous lists, please note that for corporate donations Hurun Research for the second year running multiplied the donation by an individual s shareholding in the company. The list includes only individuals born and bred in mainland China regardless of the passport they currently hold. Values are rounded, and past figures are subject to exchange rate fluctuations. 1 USD = 7 RMB. Thank you for all the organizations and individuals who have supported and helped us in compiling the list. About Hurun Report Inc. Nobody Knows China s Rich Better! Established as a research unit in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research house, media and lifestyle investments business based in Shanghai, China, best-known for its rankings of the richest people in China, India and the rest of the world. Hurun Report Inc. has four divisions: Hurun Research Institute; Hurun Media; Hurun Conferences and Training, an active events division targeting entrepreneurs and high net worth individuals; and 15 / 16

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