Wu Yajun and Yang Huiyan See Huge Net Worth Increase in One Day

billionaires Wu Yajun and Yang Huiyan saw their net worth increase by $3.6 billion in just a few hours.

Wu Yajun (left), cofounder-chair of Longfor Group Holdings, and Yang Huiyan, co-chair of Country Garden.Courtesy of Longfor; courtesy of Yang Huiyan
As two of China's most successful businesswomen, Wu Yajun and Yang Huiyan are an inspiration to many. They have both achieved great things in their careers, and are an example of what can be accomplished with hard work and determination.

As China's richest female real estate tycoons, Wu Yajun and Yang Huiyan saw their net worth increase by a combined $3.6 billion in just a few hours, after the country's regulators announced a new package of measures designed to support the ailing property industry. This is a welcome turn of events for the Chinese economy, which has been struggling in recent months. With this new support, the property industry is sure to rebound, and Wu and Yang's fortunes are likely to grow even further.

China's real estate market has been struggling in recent months, with prices and sales both falling. In order to stabilize the market and encourage more activity, the country's central bank and regulatory commission have issued a 16-point plan. This plan includes measures to increase lending and liquidity, as well as steps to improve market transparency and increase access to financing. By taking these measures, the authorities hope to encourage more activity in the real estate market and ensure its healthy development.

The release of the document comes as a welcome relief to many in the real estate industry who have been struggling to keep up with the rapidly changing landscape. The new guidelines show that regulators are willing to work with developers to ensure that they can meet their obligations, while also providing some flexibility in terms of repayment schedules. This should help to level the playing field between private and state-owned companies, and provide some much-needed stability in an otherwise uncertain market.

The paragraph discusses how shares of several major real estate companies soared in response to the news of Alibaba's IPO, with two of the biggest beneficiaries being billionaire Yang Huiyan and Wu Yajun. This increase in wealth placed them among the five biggest gainers on the Forbes Real-Time Billionaires List for the same day.

Looking at the current state of the Chinese real estate market, it is clear that the days of easy money and skyrocketing prices are over. Developers such as Yang's Country Garden and Wu's Longfor Group have been hit hard by the government's crackdown on the housing market and aggressive corporate borrowing. However, these companies are in better financial health than those that have defaulted on their debts, such as Shimao Group, Sunac China Holdings, and China Evergrande Group. It is evident that the real estate market in China is undergoing a major correction, and only the strongest companies will survive.

It's no secret that China's once booming property market has been cooling off in recent months. Sales have been declining for 14 consecutive months now, and the latest figures show no sign of a rebound. Country Garden, one of China's largest developers, saw its net profit plunge 96% in the first half of this year. The slowdown in the property market is having a ripple effect on the wider economy, as confidence among homebuyers slump.

The 16-point plan unveiled by the Chinese government is a welcome move to prevent mass-scale defaults and systematic financial risks in the real estate sector, according to Shen Meng, managing director at Beijing-based boutique investment bank Chanson & Co. However, Meng cautioned that the policies are not a sector-wide bailout, but rather focused on ensuring the delivery of pre-sold but stalled construction projects, and preventing defaults as many developers face maturing debt payments next year. nonetheless, the 16-point plan is a step in the right direction that should help to stabilize the real estate market and prevent any further financial risks in the near future.

As China's developers face mounting debt obligations, they are increasingly resorting to desperate measures such as suspending construction and defaulting on loans. This is causing widespread public protests and mortgage boycotts across the country. Unless the situation improves, we could see a major financial crisis in China that could have ripple effects around the world.

It is unlikely that beleaguered real estate companies like Evergrande will see a reversal of fortunes, according to Shen. The company's troubled billionaire founder Hui Ka Yan has come to symbolize tycoons who have borrowed across the board to fund their expansion. Hui, once Asia's richest person, now only has a net worth of $2.9 billion, down from a peak of $42.5 billion in 2017, as the company struggles to restructure its north of $300 billion in total liabilities.

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