Residence Guangzhou, China Role Businessman Name Xu Jiayin | Children 2 Nationality Chinese | |
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Occupation Chairman, Evergrande Real Estate Group Net worth US$8.6 billion (June 2015) Education Wuhan University of Science and Technology | ||
Who Is Xu Jiayin? Real Estate Tycoon Becomes China's New Richest Man
Xu Jiayin (Chinese: 许家印; born 1958), or Hui Ka Yan in Cantonese, is a Chinese businessman, chairman of Evergrande Group, a Chinese real estate developer. Evergrande's debt to equity ratio peaked at over 170% in 2011. It was over 150% at the end of 2015. It was higher than most Chinese listed real estate companies. Its most recent acquisitions are from Hong Kong-based New World Development. Hui is the largest shareholder of China Evergrande Group. Now it has more than 700 projects in more than 240 cities of China including Beijing, Shanghai, Guangzhou and Shenzhen. 70% of its projects are in the first and second-tier cities. It has established strategic cooperation with more than 800 well-known enterprises worldwide. It implements the strategy of making top-quality products, creates the products with high quality and high cost-effectiveness, establishes the precedents of “selling all the houses with fine decoration” and “no-reason house return” in the industry, so that more than 5 million owners can realize the dream of having a livable home. In 2017, Evergrande Real Estate Group will achieve a sales amount of RMB 450 billion. The Guangzhou-based company has became China's biggest property developer in 2016 based on sales volume and had revenue of 211.4 billion yuan ($31.8 billion) in 2016.
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He is China's richest man, and the wealthiest person in Asia, with a net worth of US$42.2 billion.
Early life
Xu Jiayin was born in a rural family in Jutaigang Village, Gaoxian Township, Taikang County, Zhoukou, Henan, China. (Chinese: 河南省周口市太康县高贤乡聚台岗村)
Personal life
He is married with two children and lives in Guangzhou.
