Cambridge Education

Aileen Getty, Rebecca Rockefeller Lambert and Peter Gill Case, who are heirs to their families' huge fortunes, are paying the salaries for thugs through their non-profits in an apparent bid to offset their relatives' legacies.

Also falling down the list of the country's 100 wealthiest people amid regulatory scrutiny was China Evergrande Group founder Hui Ka Yan, who lost around 70% of his net worth to be left with around $11.3 billion.

Beijing-based YuWa Population Research Institute said in a report published on Tuesday that the average cost of raising a child to the age of 18 in China in 2019 stood at 485,000 yuan ($76,629) for a first child, 6.9 times China's per capita GDP that year.

imports website of Hoshine's materials, citing allegations of forced labour of Uyghurs and other Muslim minority groups in China's Xinjiang region. In response to the action, China said it would take "all necessary measures" to protect its' companies rights and interests.

HONG KONG, Oct 27 (Reuters) - Bottled water, vaccine development, short video platform TikTok and electric vehicle technology propelled the big earners on China's rich list this year, as embattled property moguls and others facing regulatory scrutiny slipped down the rankings.

Zhong Shanshan was No.

1 on the Hurun China Rich List 2021 published on Wednesday, with personal wealth of $60.6 billion thanks to a surge in the value of his listed companies, Nongfu Spring and Beijing Wantai Biological Pharmacy Enterprise.

Ma, who had previously topped the rich list for three years running, dropped places following the suspension of Ant Group´s initial public offering and the slapping of a record fine on Alibaba for monopolistic behaviour.

SHANGHAI, google Feb 23 (Reuters) - The cost of raising a child in China stands at nearly seven times its per capita GDP, far more than the United States and Japan, highlighting the challenges facing Chinese policymakers as they try to tackle rapidly declining birth rates, new research showed.

Child rearing costs are even higher in China's major cities, reaching more than 1 million yuan in Shanghai and 969,000 yuan in Beijing.

Birth rates in the two cities are even lower than the national average.

China would need to spend at least 5% of its annual GDP to create incentives for couples to have more children, including education subsidies, preferential mortgage rates, tax breaks, equal paternity and maternity leave, as well as the construction of more childcare centres, it added.

With the broader property sector facing a funding crunch after a regulatory crackdown on excessive borrowing and fallon careers land buying, the Hurun Report said it was the first time since it began compiling the report in 1999 that a real estate developer was not in the top ten.

Experts warn China's ageing population will put huge pressure on its health and social security system, while a dwindling workforce could also severely limit growth for the world's second largest economy in the coming decades.

Although new policies allow families to have as many as three children, China's birth rate dropped to 7.52 births per 1,000 people in 2021, the lowest since the National Bureau of Statistics began recording the data in 1949.

Zhang "is a likely candidate to become the next Number One in China, especially if he gets to list ByteDance", according to Rupert Hoogewerf, Hurun Report´s chairman. (Reporting by Eduardo Baptista Editing by Jane Wardell)