(ECNS) -- Kwong Siu-hing, wife of Sun Hung Kai Properties' co-founder Kwok Tak-seng, has become China's richest woman for the first time, according to the "Herose Club • Hurun Richest Women in China 2023" released by the Hurun Research Institute on Tuesday.
As her wealth rose to 72 billion yuan ($9.94 billion), this 94-year-old has become the sixth woman in China who topped the list since it was first released 18 years ago.
Kwong became the largest shareholder in Sun Hung Kai Properties through a trust fund after Kwok died in 1990. She also ranks among the top 50 of the "HENGCHANG SHAOFANG • Hurun China Rich List 2023."
According to Hu Run, chairman and chief researcher of Hurun Report, the threshold for entering this list has risen from 500 million yuan ($68.75 million) to 13.5 billion yuan ($1.86 billion), an increase of nearly 30 times compared to 18 years ago.
Among these female entrepreneurs, 59 percent started from scratch, including Wu Yajun, co-founder of Longfor Group, who ranks second with 66.5 billion yuan ($9.18 billion). Their average age is 57 years old, five years younger than the top 50 male entrepreneurs.
"The entrepreneurial spirit of Chinese female entrepreneurs is unmatched by women in any other country," said Hu Run.
Real estate remains the largest source of wealth for female entrepreneurs, accounting for 17 percent of the list, followed by consumer goods and energy with 13 percent each.