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Tuesday, April 3, 2018

Already Wealthy Woman Entrepreneur Becomes $2 Billion Richer Within 4 Days

Yang Huiyan, richest woman in China
China's richest woman, Yang Huiyan, has increased her already abundant riches to $2 billion in just four days. Her net worth recently skyrocketed to $25.6 billion after her company Country Garden Holdings Co., the largest developer by sales in China, encountered a big surge in share sales in the first four days of 2018.

At 36 years old, Huiyan is also the youngest billionaire in China. And according to the Bloomberg Index, she is the 29th richest person in the world.

Her father Yang Guoqiang, commonly known by his Cantonese name Yeung Kwok Keung, transferred his controlling stake to her in 2005 "due to his intention to train Yang Huiyan as the successor of his family’s interest," according to Country Garden's 2007 initial public offering prospectus. Since then, she had been the major, controlling shareholder of Country Garden.

Country Garden Holdings Co., which her father co-founded in 1992, has been one of the companies that benefitted from the boom in China's property market. It has caused buoyant earnings and soaring sales particularly to the country's largest developers.

The company's preliminary 2017 contracted sales already reached 550.8 billion yuan ($85 billion) on the first week of January, even exceeded its 500 billion yuan target in August.

Aside from the big surge on the first four trading days, Country Garden's shares has reportedly rose up to another 7.4% on January 8 in Hong Kong trading, taking its year-to-date gain up to 17%. And it still continues on rising.

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