China's entrepreneurial environment in the World 96 still have 90% rich from scratch

Earlier this month, Wealth-x published a survey of the world's super-rich, which has a net worth of more than $1 billion trillion. As one of the countries with the highest contribution rate to the global rich, China has a total of 157 super-rich, ranked 2nd in the world. So how are these billionaires made? Are they born with a golden spoon in the "rich second-generation" or a struggling investor? The report divides rich sources of wealth into three categories: from scratch, inherit property and operate it, and completely inherit property. The data show that 89% of the super-rich in mainland China have earned their current wealth by starting from scratch and by themselves, while 6% have inherited some of their assets and managed to develop them, while the total reliance on inherited property accounts for only 5%. This 89% figure is not only much higher than the world's 60% average, but also makes China the world's richest "proportion" of the highest country. By contrast, in Saudi Arabia, the United Arab Emirates and other Middle Eastern countries, fully inherited rich rich more than 40%. The corresponding proportion in New Zealand amounted to 50%. This means that the now-all-powerful gold lords of China, which may have been a busy and humble entrepreneur decades ago, have been accompanied by decades of dramatic changes in the Chinese mainland. But while nearly 90% of China's billionaires are self-made, it does not mean there is an entrepreneurial environment in the region, but the opposite is true. At the end of October this year, the World Bank released its 2014 Global Business Report, examining the layers of regulation and restrictions that SMEs will face when they start in the world's 189 economies. In general, the richer the country is, the less restrictive it will be to do business. But according to the report, China's current business acumen is only ranked 96th in the world, while Hong Kong lags behind Singapore, the 2nd in the world and Taiwan in the 16th position. In the backward entrepreneurial environment, there are a large number of rich people from scratch, only from the digital comparison, the performance of China's rich can be said to be quite inspirational.