China has rightfully taken its place in the global marketplace as a leader and is emerging markets in every segment. Unparalleled growth in manufacturing, technology, infrastructure, construction, banking and finance and other industries makes China a hub of economic activity and opportunities. Experts believe that the powerful, long-term economic trends in China are here to stay. We bring to you some of the movers and shakers contributing to China’s economic boom.
(Please note, the list is in arranged randomly and not in the order of size or success of the personalities listed)
· Liu Chuanzhi, President, Lenovo Group:
Lenovo is a leading multi-national company renowned for its 2005 acquisition of IBM’s ThinkPad division. Lenovo ranks among the top PC (notebooks, laptops, desktops) manufacturers across the globe. They also manufacture mobile phones, servers, storage devices, software and other related products. During 2014, the company acquired two major firms in the US – IBM’s x86 enterprise server division & Motorola Mobility. Liu Chuanzhi continues to spiral Lenovo to greater success.
· Wang Jianlin, Chairman, Dalian Wanda:
Dalian Wanda is a Chinese conglomerate with a diversified business portfolio. The company has made many overseas investments. Its recent investments have been in Real Estate, Entertainment, Sports, and Children’s entertainment to name a few. Over the past few years, Wang spearheaded Dalian Wanda’s acquisition of Chicago’s third tallest building, a $2.6 billion acquisition of AMC Entertainment in the US and also of Sunseeker yachts in the UK. They operate the world’s largest cinema chain with more than 500 cinemas and are also involved in internet finance, insurance, and investment.
· Zong Qinghou, Chairman and CEO, Hangzhou Wahaha Group Co., Ltd.:
Zong Qinghou has gained success with China’s going global’ motto. His keen sense of business helped him build the Wahaha group. The company is a Chinese beverage company with an annual sales revenue of more than US$7.9 billion. The company produces dairy drinks, bottled water, carbonated drinks, bottled tea, juices, canned food, medicine and healthcare products, snacks, infant food, and liquor. The company also provides clothing for kids. Zong has also expanded into raw material and retail industries in the last two years.
· Zhang Jindong, Chairman, Suning Appliance Co., Ltd:
Suning Appliance is a key player in China’s home appliance market. Zhang Jindong is one of the co-founders of Suning Appliance, was among the first to set up chain stores in the Chinese home appliance chain retailing industry. Suning has over 700 stores spread over 150 cities in China. Zhang has ensured Suning’s product portfolio has expanded to include not just home appliance but also mother-and-baby, general merchandise, and more product lines. Zhang and Suning Appliance are gearing up to create a networked retail platform.
· Ma Huateng, CEO Tencent Holdings Limited:
Instituted by Ma Huateng in November 1998, Tencent has become China’s largest and most popular online community. Tencent QQ, has changed the way of the Chinese. The instant messaging app currently has almost 712 million active users. As the CEO of the largest internet company in China, Ma actively participates in the Tencent’s product development process and is working to build Tencent into the largest open platform. The Chinese gaming and social app giant also invested in the Silicon Valley and has found global success with its social messaging app VChat (WeChat)
· Jack Ma, CEO, Alibaba Group:
The Alibaba Group is a leading e-commerce site which caters to more than 65 million members across more than 240 countries and regions. The success of Alibaba has positioned Jack Ma as one of the most respected Internet industry entrepreneurs across the globe. Ma has established an e-commerce empire of B2B, B2C and C2C. Alibaba has played a key role in changing the trading and shopping habits of the Chinese. Ma led the e-commerce giant to a record-breaking IPO in New York during 2014 and had made significant overseas acquisitions in the US and other Asian markets.
· Wang Fengying, General Manager, Great Wall Motor:
Great Wall Motor Company Limited is China’s largest SUV and pickup manufacturing company. During 2014, the company had assets to amounting to more than 54.305 billion yuan. Great Wall Motors owns two brands–Haval and Great Wall covering three categories: SUVs, passenger cars, and pickups. With over 30 holding subsidiaries, more than 60,000 employees, four vehicle manufacturing bases, and dedicated R&D centers. Keeping ahead in the domestic and overseas market is a key focus for Wang and Great Wall Motor.
· Wang Shi, Chairman, China Vanke:
Vanke is a diversified company engaged in various sectors including real estate, hotel, retail and foreign trade. However, Real Estate is the primary focus for Wang Shi. Vanke is now one of China’s leading residential real estate development companies. Their primary focus is on building, managing and selling properties across 20 cities in China. Vanke Property also manages almost thousand property service projects in 64 large- and medium-sized cities across China and provides superior residential services to their clients.
· Zhang Ruimin, CEO, Haier Group:
Zhang Ruimin is responsible for turning Haier, a small, bankrupt refrigerator manufacturer, into the world’s fourth-largest white appliances company. It manufactures, designs, develops and sells products including air conditioners, microwave ovens, washing machines, refrigerators, televisions, mobile phones, and computers. Zhang Ruimin combined Western management experience with traditional Chinese philosophy to create Haier’s success story. Haier’s revenue has crossed 140.53 billion yuan (US$22.11 billion) and achieved profits of more than 4.52 billion yuan (US$712.39 million).
· Lu Guanqiu, Founder, Wanxiang:
Wanxiang Group has expanded from auto parts into real estate, finance, and electric power, and has over 40,000 employees. They have been aggressively investing in the overseas markets. Since opening their US offices in 1994, the Chinese automotive and new energy firm has acquired more than two dozen companies in North America. During 2014, Wanxiang also purchased Fisker Automotive, a U.S. hybrid-electric sports car maker and are also working to invest in prestigious US hotel projects and more.
· Liang Xinjun, CEO, Fosun:
Fosun operates across a diverse range of sectors covering real estate, asset management, insurance and healthcare to name a few. During December 2014, the firm announced an acquisition deal of almost $433 million to acquire Michigan-based Meadowbrook Insurance. It has also acquired the French vacation resort firm, Club Med after a fierce battle lasting for several years. They have also invested in multiple international real estate projects.
The legendary Chinese dragon is rearing and has taken the globe by storm. The success story of China is a great opportunity for the rest of the world – come and be a part of it!
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