For a Chinese hamlet deep in the mountains, Xiatang village has a lot of mansions. Luxury cars bearing $13,000 Shanghai licence plates provide further clues that this is not your typical rural village.
With a population of just 400,000 Tonglu county in eastern China’s Zhejiang province is home to the founders of four separate express delivery and logistics companies, known in Chinese as kuaidi. Over the past 16 months, all four have listed on Chinese or foreign stock exchanges, turning their founders into billionaires.
Zhejiang is famous for its entrepreneurial culture and tight-knit business communities. Its coastal location allowed it to benefit from export-oriented light manufacturing beginning in the 1990s.