These business women chinese who have built fortunes

On the 234 women being included in the list of 2 095 billionaires of Forbes, only 67 are considered to have "managed only" : half are chinese.

A record number of 456 Chinese have been inscribed on the list of billionaires in the world in 2020, published recently by the american magazine Forbes. The chinese women appear in many on this list. Their special feature : they have often built their fortune themselves.

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most of the wealthiest women in the world, such as the French Francoise Bettencourt Meyers (15th in the ranking), have inherited their fortune. Of the 234 women being included in the list of 2 095 billionaires of Forbes (or a little more than 10% of the total), only 67 are considered to have "managed only". The american magazine describes them as women who have built a company, or a fortune by their own means. Almost half of them is originally from the Greater China : 28 from mainland China and five in Hong Kong. India, a country whose population is comparable to that of China, there are only two women who have created a fortune of several billion dollars.

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a Specialist in business strategy and competition in East-West at the Darden School of Business (University of Virginia), professor Ming-Jer Chen is the point for The Express on the route and the peculiarity of these business woman chinese.

where women billionaires of the Middle kingdom ?

Ming-Jer Chen : Currently, the "self-made woman," the more wealthy of the planet is Zhong Huijuan. She is the president of Hansoh Pharmaceutical, a manufacturer of chinese medicines, and worth $ 16.3 billion. It is followed by Wu Yajun, who made his fortune in the real estate development after having founded Longfor Properties in the 1990s and whose heritage is estimated at 13.7 billion dollars. The third on the list is Read Zhongfang, who has co-founded with his son, Offcn, an institution of professional education and preparation for entry examinations in the civil service, and who possesses a cultural heritage of a net value of $ 9.5 billion.

Zhong Huijuan, Wu Yajun and Read Zhongfang are part of the new class of entrepreneurs and wealthy from China. Most of these women are aged 50 years or more. They have witnessed the difficult period of the cultural revolution of Mao, and have experienced both difficulties and opportunities when China opened its door to foreign investment in 1979. The desire to make a better life for their children has often been the engine of their entrepreneurial ambitions.

How these women have taken their place in the business world and built their fortune ?

M-D C. : Their wealth is derived mainly from the manufacturing industry and real estate. Some of them have also seized opportunities to higher risks in the areas of technology, biotechnology and artificial intelligence. In China, the individual businesses have been legalized in 1981, releasing the spirit of initiative and transforming the chinese company, previously based on agriculture in a market economy dynamics. The boom in manufacturing that followed, in Shenzhen and other special economic zones, allowed to experiment with capitalism, has allowed women to take advantage of new job opportunities, which they had not access before. Many women entrepreneurs have climbed the ranks in the world of the factory. The economic reforms have also given career opportunities without precedent, enabling them to create private companies and make a fortune.

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Have they had to overcome particular difficulties ?

M-D C. : They have a lot of work to get there. Working long hours is a common practice in China. Like their male counterparts, the founders often work after midnight. This vision goes back to the ethics confucian's work, one of whose aspects is the chi ku : the art of persist in times of difficulty. These values, such as working to exhaustion, are the unique characteristics of chinese entrepreneurs, both in mainland China and abroad. Another important aspect of confucianism, which in part explains the economic success of China, is the individual sacrifice made for the benefit of the family, the town of origin or of the employer.

These women are they from the upper layers of the population or have they done long studies ?

M-D C. :Some women billionaires chinese have never been to the university, it should be recalled that at the beginning of the cultural revolution, all Chinese schools were closed and some universities have been until the death of Mao in 1976. But this has not prevented to learn. Education is highly valued in China. In developing their companies, founders are chinese nationals continue to improve their skills in order to anticipate the changes inherent in their functions. It is for this reason that the programs of MBA destinés managers are in high demand and have become the flagship program of the business schools in china.

In Europe, it is often observed that women entrepreneurs lack networks. Is this also the case of heads of corporate in china ?

M-D C. : In China, personal connections, or guanxi, are the key to the success of new businesses. Guanxi is a term referring to the relationships defined by reciprocity and mutual obligation based on trust and the sharing of experiences.

entrepreneurs who pursue their activities in China must deal with a large number of stakeholders, including government officials and local community leaders. The founders excellent in this area. They tend to think more globally. They put more emphasis on their relationships with all the key stakeholders and often occupy positions within the local or central government.

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These business women in china have changed the image of women in China ?

M-D C. : It would be wrong to believe that, in the past, chinese women were powerless and subject to men, as they are portrayed often in the West. The word "woman" is pronounced in chinese "qi", which means "equal". In the chinese tradition, women are accustomed to exercise a power and influence are important, even if it may sometimes go unnoticed.