What’s next for this powerful group?
comes from the consumer market and has thrived in the beverage business. Another beneficiary of the demographic dividend is the booming express delivery industry, which propelled SF Holdings' CEO Wang Wei up to No. 10 this year. Zhao: Technology is propelling many fortunes. Half of the top 10 people rely on the Internet for their fortune.
Zhao: Although China's private-sector wealth is still mainly concentrated in the hands of business founders, it’s an unprecedented time of transition to next-generational leaders. Some 60 members of the new Forbes China Rich List are 50-59 years old, a quarter are more than 60, and eight are over 70 years old. This isn’t a young group.
markets and actively seek new ways of development. For example, ByteDance’s overseas version of TikTok has become popular all over the world, and SF Express – after thriving at home — has also begun to focus more on overseas business. Chinese enterprises will increasingly shift their strategic goals to internationalization and new opportunities, in my view.
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