Property tycoon Ren Zhiqiang ranks 1st among home developers

12:27, January 26, 2010      

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How much do top property developers earn annually?

The China Real Estate Manager Alliance released the Top 100 annual pay list for listed property companies' top officers on January 23 that was formulated on the basis of statistical data in the listed company's annual reports.

KAM Hing Lam, deputy managing director of the Hong Kong-based Cheung Kong (Holdings) Limited ranks first with an annual pay of 18.35 million Hong Kong dollars. Huayuan chairman Ren Zhiqiang ranks second with an annual pay of 7.74 million yuan, and Vanke chairman Wang Shi ranks sixth with an annual pay of 2.48 million yuan.

According to the China Real Estate Manager Alliance, all the data used comes from annual reports of listed companies in March 2009 and indicates the actual salaries of the top property officers in 2008. The highest annual salary among the Top 100 list stands at 18.35 million Hong Kong dollars, the lowest at 39,600 yuan. The majority of the top 100 property officers come from Beijing, Shanghai and Shenzhen.

Cheung Kong (Holdings) Limited deputy managing director KAM Hing Lam ranks first with an annual pay of 18.35 million Hong Kong dollars. Huayuan chairman Ren Zhiqiang ranks second with an annual pay of 7.74 million yuan, and its general manager Sun Qiuyan ranks third with an annual pay of 4.49 million yuan. Vanke chairman Wang Shi ranks sixth with an annual pay of 2.48 million yuan and its general manager Yu Liang ranks ninth with an annual pay of 2.06 million yuan. In addition, the annual salary of the last 50 officers on the list ranges between 100,000 yuan and 400,000 yuan, and those of the last 10 officers all earn less than 200,000 yuan. Zhu Jinsong, director and general manager of Guangzhou Pearl River Industrial Development Company, ranks last with an annual salary of only 39,600 yuan.

According to Chen Yunfeng, secretary-general of the China Real Estate Manager Alliance, this indicates that there are big differences between the real estate managers from Hong Kong and Chinese mainland. In Hong Kong, the real estate industry has developed for many years and quite a few enterprises have become internationalized. Therefore, the salary standards of Hong Kong's real estate managers are much higher than those of the real estate managers from Chinese mainland.

By People's Daily Online
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