Xu Jiayin

Xu Jiayin (Chinese: 许家印; born 9 October 1958), or Hui Ka Yan in Cantonese, is a Chinese billionaire businessman and chairman of Evergrande Group, a Chinese real estate developer.[3]

In this Chinese name, the family name is Xu (Hui).
Xu Jiayin
许家印
Born (1958-10-09) 9 October 1958[1]
Taikang County, Zhoukou, Henan, China
NationalityChinese
Other namesHui Ka Yan
EducationTaikang County No. 1 High School
Alma materWuhan University of Science and Technology
OccupationBusinessman
Net worthUS$23.4 Billion (February 2021)[2]
TitleFounder and Chairman, Evergrande Group
Spouse(s)Yang Huiying
Children2
Chinese name
Traditional Chinese許家印
Simplified Chinese许家印

Hui is the largest shareholder of China Evergrande Group. It has more than 700 projects in more than 240 cities in China including Beijing, Shanghai, Guangzhou and Shenzhen. In 2017, Evergrande Real Estate Group will achieve a sales amount of RMB 450 billion. The Guangzhou-based company has become China's biggest property developer in 2016 based on sales volume and had revenue of 211.4 billion yuan (US$31.8 billion) in 2016.

As of July, 2020, Xu has an estimated net worth of $34 billion, making him the third-richest person in China, and 31st -wealthiest in the world, according to Forbes.[4]

Early life and education

Xu Jiayin was born to a rural family in Jutaigang Village, Gaoxian Township, Taikang County, Henan, on October 9, 1958.[5][3][6] His father is a retired soldier who participated in the Second Sino-Japanese War in the 1930s and 1940s.[7] After the establishment of the Communist State, he became a warehouseman in his home-village.[7] Xu's mother died of sepsis when he was 8 months old.[7][6] He was raised by his paternal grandmother.[7][6] After high school, he worked in a cement product factory for a few days and then worked for two years at home.[8][6] He was the production team leader.[9] After resuming the college entrance examination in 1978, Xu was accepted to Wuhan Institute of Iron and Steel (now Wuhan University of Science and Technology), serving as commissary in charge of Hygienic in his class.[10]

Career

After university in 1982, Xu was assigned to the heat-treatment shop of Wuyang Iron and Steel Company (Chinese: 舞阳钢铁公司), where he was promoted to associate director in 1983 and director in 1985.[11][12] Xu served as director for seven years there.[13] After he resigned in 1992, he moved to Shenzhen, the newly founded special economic zone in southeast China's Guangdong province.[14] He was accepted by a trading company named "Zhongda" (Chinese: 中达).[14] One year later, he became president of its branch office named "Quanda" (Chinese: 全达).[15] On October 1, 1994, Xu moved to Guangzhou, capital of Guangdong province, to establish the Guangzhou Pengda Industrial Co., Ltd. (Chinese: 广州鹏达实业有限公司).[16] In March 1997, he founded the Evergrande Group and served as its chairman of the board.[17] Xu is the owner of Guangzhou Evergrande football club, one of China’s most successful football clubs as of 2016.[18]

in 2019, Xu announced a three-year investment in electric cars worth approximately $6.4 billion.[19]

In 2020, Forbes listed Xu as third on the list of Richest Chinese Billionaires.[20] However, his wealth is estimated to have dropped over $20 billion in the past three years due to mounting debts, which was exacerbated by the Coronavirus pandemic.[21]

Personal life

He married Yang Huiying (Chinese: 杨惠英), whom he met in Wuyang Iron and Steel Company (Chinese: 舞阳钢铁公司).[22] The couple has two children and lives in Guangzhou.[3]

References
  1. "新春特刊之许家印：父亲送我的那块梅花表". Sina Finance. Retrieved 7 June 2018.
  2. - Bloomberg.com
  3. "Forbes profile: Hui Ka Yan". Forbes. Retrieved 11 February 2020.
  4. "Hui Ka Yan". Forbes. Retrieved 22 March 2019.
  5. Guo Hongwen & Xu Yahui (2017), p. 1.
  6. Southern Metropolis Weekly (6 November 2013). 解密许家印：开过拖拉机掏过粪 婚姻被赞模范. qq.com (in Chinese).
  7. Guo Hongwen & Xu Yahui (2017), p. 2.
  8. Guo Hongwen & Xu Yahui (2017), p. 13.
  9. Guo Hongwen & Xu Yahui (2017), p. 14.
  10. Guo Hongwen & Xu Yahui (2017), p. 21.
  11. Guo Hongwen & Xu Yahui (2017), p. 42.
  12. 许家印舞钢前传：重视工人福利 铁腕管理上班睡觉. 163.com (in Chinese). 7 November 2013.
  13. Guo Hongwen & Xu Yahui (2017), p. 43.
  14. Guo Hongwen & Xu Yahui (2017), p. 51.
  15. Guo Hongwen & Xu Yahui (2017), p. 53.
  16. Guo Hongwen & Xu Yahui (2017), p. 56.
  17. Guo Hongwen & Xu Yahui (2017), p. 66.
  18. "A hot night in the Chinese Super League with Guangzhou Evergrande, 'the world's richest football club","www.independent.co.uk"
  19. "China Evergrande Plans to Build Electric Cars, Batteries in Qingdao - Caixin Global". www.caixinglobal.com. Retrieved 17 April 2020.
  20. Wang, Jennifer. "The 10 Richest Chinese Billionaires In 2020". Forbes. Retrieved 17 April 2020.
  21. Wang, Yue. "Asia's Former Richest Man Sees Wealth Drop $12 Billion Amid Coronavirus Outbreak". Forbes. Retrieved 17 April 2020.
  22. Guo Hongwen & Xu Yahui (2017), p. 39.

Bibliography
  • Guo Hongwen; Xu Yahui (2017). 《恒大许家印》 [Evergrande Group: Xu Jiayin] (in Chinese). Dongcheng District, Beijing: Taiwan Strait Publishing House. ISBN 978-7-5168-1587-8.
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