4 Chaoshan Families Control More Than 1 Trillion Yuan in Assets

The Vanke takeover fight has the Chinese media digging into the Chaoshan families.

Vancouver Sun: High-powered overseas Chinese business group gathers in Vancouver
The Teochew people originate from the southern Chinese province of Guangdong, in and around the city of Chaoshan. Due to economic hardships back in the 19th century, the Teochew were among the first group of Chinese to emigrate in large numbers, settling primarily in Singapore, Thailand, Malaysia and Indonesia. Settlement in Canada grew in the 1960s, and there are currently about 200,000 Canadians who are of Teochew descent.

They have a reputation as a hard-working and business-oriented community, and it is estimated that Teochew businesses account for nearly 60 per cent of all overseas Chinese commerce.

Hong Kong business magnate Li Ka-shing is perhaps the most famous member of the Teochew community. He is ranked by Forbes as the 17th richest person in the world with an estimated net worth of $25.6 billion US. Locally, the Canada Chaoshan Business Association includes former B.C. Lieutenant Governor David Lam, who passed away in 2010, and Richmond MP and cabinet minister Alice Wong.
iFeng: 潮汕商帮的庞大帝国:四家族控制金融资产超万亿
Insurance as a breakthrough, almost Chaoshan background Businessman, business must go through to enter the path to the financial industry. "First Financial Daily" reporters after carding survey found that , as a breakthrough in the insurance, Chaozhou Merchants meddle, control of financial institutions, has reached dozens across the banking, securities, insurance, trust, fund, or even small loan companies, guarantees, factoring, financial and other Internet almost all financial fields.

Has always been low-key mystery, so unsure of financial institutions outside the control of Chaozhou Merchants, and the size of the corresponding financial assets, whether and to what extent large, but there is no doubt that this group under the control of the impact of the financial assets worthy He said the amount of days. According to public data estimated that only rich Fude, Baoneng Department, Chu Mang family, and three other Chaoshan Natives and Overseas Chinese Xin Group consortium, controlled by financial assets may be affected by at least had reached more than 1.1 trillion yuan.

...Despite the lack of complete and accurate data, financial institutions Chaoshan business to help make life difficult for outsiders to intervene, but their financial empire has become a monster, control, financial assets have been affected very alarming. Calculated in accordance with the above data, only the rich Fude, Baoneng, Chu Mang family Kingold four, control, financial assets, conservative estimates has affected more than 1.1 trillion yuan.

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