Hui Ka Yan, or Xu Jiayin, chairman of Evergrande Group, retained his top position on the 2019 Forbes China Philanthropy List with his total cash donations worth 4.21 billion yuan (US$612 million), followed by Country Garden chairman Yang Guoqiang and family, and Alibaba chairman Jack Ma.

This is the fourth time Hui has topped the list, after doing so in 2012, 2013 and 2018, China Daily reported.

Yang and family and Ma have respectively donated 1.65 billion yuan and 980 million yuan.

The list, comprised of 100 entrepreneurs, represented a seven-year high of 19.17 billion yuan in cash donations, up 10.7% from the 17.31 billion yuan of last year.

In addition, it marks the fourth time the value of cash donations exceeded 10 billion yuan after 2011, 2017 and 2018, the report said.

The minimum donation on the list hit a historical high of 18 million yuan, up from last year’s 13 million yuan.

Hui has become the world’s richest real estate tycoon with a wealth of US$37 billion.

According to the latest Hurun global real estate rich list, China has 139 real estate billionaires with a combined net worth of US$550 billion, followed by the US with 26 billionaires at a combined wealth of US$110 billion and the UK with 17 billionaires with US$66 billion combined.

Sun Hung Kai, Evergrande and Country Garden are the top 3 most valuable property developers in China, with market value of US$47.8 billion, US$43.9 billion and US$31.3 billion, respectively.

Meanwhile, Evergrande Health Industry Group, a Hong Kong-listed subsidiary of Evergrande Group, announced an agreement with German company Hofer Powertrain on Wednesday, a system supplier of Powertrain Solutions. The agreement aims to further establish a joint venture in Germany, China Daily reported.

According to the agreement, Evergrande Health will hold 67 % of shares in the joint venture, while Hofer will hold the remaining 33%.

In conjunction with Hofer Powertrain’s technology, research, development and manufacturing team, the new venture will focus on developing integrated powertrain core technology and establish an advanced research and development production base in China, Evergrande Health said.

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