China property billionaire transfers US$7b stake to her daughter's trust
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Hong Kong
ONE of China's richest women is transferring a piece of her property empire to a trust linked to her daughter.
A discretionary trust set up by Longfor Group Holding's chairman Wu Yajun, 54, will distribute the entire stake of a holding company with 44 per cent of the residential and retail developer to a trust established by her daughter. The company did not disclose the trust's beneficiaries.
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