Canada Gansu Federation of Chamber of Commerce participated in the 2019 Hurun Canada Fortune Forum

The guests present at the meeting included Mr. Hu Run, founder of [Hurun Report], Mr. Haicheng Wang, Executive Chairman of the Canadian Chinese Chamber of Commerce Group Alliance, Mr. Zhongjie Jiang, President of Loveonly Group, a Canadian diamond asset brand, Mr. Bob Saroya, Member of Parliament, and Member of Ontario Provincial Parliament Mr. Vincent Ke and Mr. Tiefeng Wang, a famous Chinese economist.

Prime Minister Trudeau, MP Geng Tan, Ontario Premier Doug Ford, MPP Billy Pang, Markham Mayor Frank Scarpitti, and others sent nearly 20 congratulatory letters.

Nearly 300 people including representatives from all walks of life in most regions and China's Xinhua News Agency participated in this roundtable.

For many years, I have only heard of the "Hurun Report", but never knew who was behind it. There is a profile online:

Hu Run (Rupert Hoogewerf) was born in the Grand Duchy of Luxembourg in 1970. He was a British certified public accountant and founder of the famous "Hurun Report". Now living in Shanghai with his family.

He graduated from Durham University in 1993 and studied Chinese at Renmin University of China. He is fluent in seven languages ​​including Japanese, German, French, Luxembourgish, and Portuguese. He has seven years of working experience in the accounting industry in London and Shanghai. In 1999, he launched China's first wealth ranking "Hurun Rich List".

Handsome, gentle, and a little timid, this is the first impression Hu Run gives. Surprisingly, Hurun's Mandarin is almost perfect and has a Chinese flavor.

It is the first time for Mr. Hu Run to come to Toronto. He said: It's strange! I am an Englishman in Canada speaking Chinese.

Mr. Hu Run said that China is the place where the world's super entrepreneurs gather. Through the wealth list, he wants to study what Chinese entrepreneurs are doing in the past 20 years. In the 20 years after China's 40 years of reform and opening up, the rate of wealth accumulation in China has never happened before in any country or era.

What is particularly interesting is that there are many new faces born in the 1980s on the wealth list. Zheng Huang, the founder of "Pinduoduo", has accumulated a personal wealth of RMB 100 billion in three years. The world has never seen such a rapid accumulation of wealth, including Amazon in the United States. "Only in China"! The second place is Yiming Zhang, the founder and CEO of "Jinri Toutiao". Born in 1983, he founded a company worth 500 billion RMB and became the most valuable "super unicorn" in the world.

There are more than 800 super entrepreneurs in China and more than 570 in the United States. If you add self-made entrepreneurs, China far surpasses the United States. On the global rich list, there are 14 people in Toronto, of which the first has a wealth of more than 20 billion US dollars, a little less than Jack Ma.

Hurun hopes to build the world's largest international circle of Chinese friends, and plans to meet with Chinese entrepreneurs in eight cities on four continents during the Spring Festival. The eight cities are Shanghai, Toronto, New York, Los Angeles, London, Istanbul, Luxembourg, and Sydney. Hu Run sincerely invites the participants to travel four continents with him.

Hu Run (Rupert Hoogewerf) speaks at the round table

Mr. Hu Run plans to build the world's largest circle of international Chinese friends

Mr. Haicheng Wang, executive chairman of the Canadian Chinese Chamber of Commerce Association, introduced Mr. Hu Run and his [Hurun Report] to the participants, saying that Mr. Hu Run was a witness of China's wealth. As the main organizer of the conference, Mr. Haicheng Wang emphasized that although today's conference is small in scale, it is very high-end. It is a round table conference, not a forum. Equal exchanges are more important.

Mr. Haicheng Wang, Executive Chairman of the Canadian Chinese Chamber of Commerce Group Alliance made a speech

The famous economist Professor Tiefeng Wang is from Lanzhou, Gansu, and his speech became the highlight of the roundtable. Professor Wang was the guest speaker, who had a strategy and talked freely, and was warmly welcomed by the participants.

Professor Wang first answered Mr. Hu Run’s question: Why does China’s wealth grow faster than the United States? Why there are more wealthy people in China than in the United States? The data was accurate, the opinions were clear, and the audience applauded.

Afterwards, Professor Wang returned to the topic of the speech and reflected on "Wealth Management in the New Economy and New Financial Environment".

Professor Wang is a chief financial securities executive and has invested for many years. Never invest in profitable companies, but only buy loss-making companies, including American companies such as Facebook, Amazon, and Tesla.

Professor Wang asked: What happened to this world? What has changed in the world economy in the last 30 years? What restrains investors from only investing in loss-making companies?

The most important change in these three decades is that the information technology revolution has brought us new consumers born in the 1980s. Like the new, dislike the old, and be unconventional have become typical characteristics of the post-80s consumers. With new technologies and new ideas, great companies quickly search for PE funds, global layout, global procurement, global agent processing, and quickly occupy global market shares. This subverts the life cycle of the enterprise. Asset lightness and asset turnover are the only way for companies to survive today.

The new economic logic is characterized by enjoyment of life, consumer entertainment, product personalization, and sales network to meet the economic needs of lazy people, fan economics, sharing economy, and niche economic needs. The platform economy company has therefore become the greatest company in the new economy. Professor Wang's conclusion is secretly consistent with the background of the emergence of new faces born in the 1980s on the wealth list of Mr. Hu Run.

Professor Wang answered why invest in loss-making companies? Because investors buy expectations and the future. The R&D technology and intellectual property amortization of technological innovation enterprises will inevitably bring losses, but their R&D technology has also established a huge moat, which can enable the company to maintain high gross profit and high sales revenue.

Finally, Professor Wang analyzed the characteristics of the new currency era and the nature of financial investment. It is recommended that everyone pay attention to wealth management and win wealth freedom.

Famous economist Professor Wang Tiefeng

Members of the Canada Gansu Federation of Chamber of Commerce were invited to participate in the [Hurun Report] Canada Fortune Forum and benefited a lot. After the meeting, I learned that Professor Wang was from Lanzhou, Gansu. Everyone happily took a group photo, and warmly invited Professor Wang and his wife to participate in the "Long Love, Sound of Long, Taste of Long" Spring Festival Gala with fellow Gansu natives in Canada on January 26.

Mr. Hu Run and Mr. Zhaoan Sui, President of the Canada Gansu Federation of Chamber of Commerce

From left to right: Ms. Xiaochun Guo , Mr. Shijin Mu, Professor Tiefeng Wang, Mr. Zhaoan Sui, Ms. Xiaoning Wang

From left to right: Ms. Xiaochun Guo, Ms. Lin Jiang, Mr. Zhaoan Sui, Mr. Jun Wu, Mr. Shijin Mu, Ms. Xiaoning Wang, Ms. Hui Zhao, Mr. Junchang Yang

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