Beijing University strikes it rich as "Cradle of Tycoons"

www.chinaview.cn 2008-01-09 18:03:55 Print

BEIJING, Jan. 9 (Xinhua) --

With 27 alumni appearing on China Rich Lists from 2003 to 2007, Beijing University was chosen the "Cradle of Chinese Tycoons" in a report released by China's University Alumni Association (CUAA) on Wednesday.

More than 300 alumni of 131 universities showed up on China Rich Lists in the past five years, including two foreign lists -- Forbes China and Hu Run Report -- and two domestic ones, which were Nanfang Weekend and New Fortune 500. Hu Run Report provides rich lists in different industries.

Zhejiang University and Qinghua University trailed Beijing University in the ranking, with 17 and 16 graduates on the rich lists, respectively. Shanghai-based Fudan University and Beijing-based Renmin University were also in the top five.

Not surprisingly, most tycoons came from the most prosperous areas of China, like Beijing, Shanghai and Zhejiang, suggesting that coming from a fast-growing city or province was a key factor driving entrepreneurship.

Science and engineering majors showed up most often on the Rich Lists, but some liberal arts grads fared well, too, if they came from schools such as Renmin University.

Robin Li, the founder and CEO of Baidu.com -- the top Chinese-language search engine -- stood out among Beijing University graduates by ranking first on the Hu Run IT Rich List of 2007, with total wealth of 18 billion yuan (2.48 billion U.S. dollars).

After receiving a Bachelor of Science Degree in Information Management from Beijing University in 1991, Li went to the United States for further studies in computer science. He started Baidu at the tail end of the dot-com boom in 1999 in Silicon Valley and brought it home in 2000.

Li is by no means an isolated case. Shi Yuzhu, chairman of the Giant Interactive Group -- one of China's leading online gaming companies -- and Zhang Chaoyang, chairman and CEO of Sohu -- the country's largest portal web site, also benefited from their time at Zhejiang and Qinghua, respectively.

Wealthy alumni "establish a good social reputation and serve as the best advertisements for their alma mater, making them more alluring for high school graduates, said Feng Yongjun, a member of the survey.

Alternatively, prestigious schools provide aspiring entrepreneurs with good educations and social connections. Many successful entrepreneurs choose universities with well-known alumni to expand their social networks, according to Cai Yanhou, head of the survey.

British national Hu Run first released the China Rich List in 1999. Since then, that list and the annual Forbes China Rich List have drawn close scrutiny from Chinese citizens.

"China has a population of more than 1.3 billion. Appearing on the Rich List is a great success, just like winning in the Olympic Games," Hu has said.

This is the first time that CUAA has conducted a survey on the educational background of China's richest persons. The goal is to raise awareness of how universities can cultivate entrepreneurs.

"With the rapid development of the economy, China is in great need of talents in many fields, especially entrepreneurs with management skills," said Cai.

CUAA, formed in 2001, is China's best-known non-governmental alumni organization. It has published reports on university education.

Editor: Yangtze Yan

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