China's booming real estate business, after a few years' development, has finally established a preliminary standard. The Procedures of the People's Republic of China on Urban Real Estate recently promulgated by the Chinese government will go into effect in 1995. Hereafter, the State will enforce a system of land use through compensation and for a limited period according to theregulations to restrict the companies.
☆Chinanews, Shanghai, Oct 11 – In China, Biguiyuan Real Estate Group has created a miracle in business circle. And the miracle still continues. The real estate group, which started its business first in Shunde, Guangdong Province, created a number of billionaires, including the richest young woman in China, even in Asia, the China Business News reported.
☆On the latest Forbes rich Chinese list, 5 of the top 40 richest people comes from Biguiyuan Real Estate Group. Yang Huiyan, the richest woman in China, is the daughter of the company's founder Yang Guiqiang. In addition to her, four other billionaires on the list are also the shareholders and founders of the company; they are Yang Erzhu, Ou Xueming, Su Nubo and Zhang Yaoyuan, and their positions on the list are the 14th, 37th, 38th and 39th, respectively.
☆In April, this year, Biguiyuan Real Estate Group went public in the Hong Kong Stock Exchanges. On its first trading day, the company's capitalization reached 118.94 billion Hong Kong dollars, becoming the third largest real estate developer in Hong Kong, only next to Li Ka-shing's Hutchison Whampoa and Sun Hung Kai, a real estate company run by Hong Kong businessman Guo Bingxiang (Walter Kwok).
☆By Tuesday, the share price of Biguiyuan Real Estate Group closed at 13.22 Hong Kong dollars and its total capitalization thus exceeded 210 billion Hong Kong dollars. After taking over all shares from her father, 26-year-old Yang Huiyan now owns 70% of the company's shares to become the largest shareholder in the company. After the company went public, Yang Huiyan's shares proportion in the company declined to 59.5%. The company's other co-founders, Yang Erzhu owns 1.63 billion shares, accounting for 10.2% of the total shares of the company, and Su Nubo, Zhang Yaoyuan and Ou Xueming each holds 816 million shares, or 5.1% of the company's shares.
☆In the 1990s, 56-year-old Yang Erzhu and Yang Guoqiang jointly established the Tengyue Construction Engineering Company. The two were also the president and general managers of the Biguiyuan Real Estate Group. At that time, Su Nubo (now 52), Zhang Yaoyuan (61) and Ou Xueming (57), also joined the two companies. The five people have no blood relationship with each other, yet their relationship is as close as blood brothers.
☆In 1999, Biguiyuan Real Eastate Group expanded its business in Guangzhou and its business soon developed rapidly. So far, the real estate company has developed dozens of housing projects in southern China region and has kept 54 million square meters of land as reserves, making it the largest real estate developer in China.
