China Insight

There is no singular company operating a nationwide bus service in China.  Instead, dozens of small companies ply the country’s highways.  However this segment of the country’s transport sector may prove to be an attractive investment target as the highway system expands, tourist numbers increase and rural Chinese continue migrating to urban areas. China’s intercity [...]

Former Google China President Kai Fu Lee cemented his career transition from manager to entrepreneur last September with his own early-stage investment fund and start-up incubator, Innovation Works. Lee’s new company will provide angel funding for Chinese start-ups, unlike most funds in China which prefer to invest in mid- to- late-stage companies.  Lee plans to [...]

The global economic crisis may have dampened enthusiasm for luxury cars in the West, but in China car sales, especially luxury models, have remained impressively strong.  Mercedes-Benz, one of the leaders in the Chinese luxury car market, saw its business grow by 50% in the first eight months of 2009.  The company introduced six new [...]

An IPO is often the quickest way to the top of the Rich List, and 2009 has seen several businessmen jump up the ranks with their company’s listings.  Liu Zhongtian of Zhongwang jumped up to number 10 on the list after he led his company to raise USD 1.3 billion in the world’s largest IPO [...]

Zijin Mining, in addition to being China’s largest producer of gold and one of its biggest producers of copper and ferrous metals, is responsible for the fortunes of no less than nine individuals on the Rich List 2009 (led by Chen Fashu at number 15).  These lucky nine benefitted from a price increase across all [...]

#37 Rong Zhijian – Once he was chairman of CITIC Pacific.  Then he made a bad currency bet that left CITIC having to shore up CITIC Pacific with capital of USD 1.5 billion.  Fast forward to April and Rong found himself resigning as chairman of CITIC Pacific.  Fast forward again and now he’s down USD [...]

#17 Huang Guangyu/Gome – Last year’s richest man and the founder of home appliance chain Gome was arrested in December 2008 for business irregularities. and yet he still manages to hang onto 17th place in 2009 with wealth of USD 3.4 billion.  It might help that US private equity firm Bain Capital announced in July [...]

#112 Huang Rulun/Jinyuann Hotel Group – Huang, 58, chairman of the Jinyuan Hotel Group, is constantly making it into the top of China’s philanthropy lists, but even for him last year was exceptional – he donated USD 120 million in 2008 alone towards the snowstorm and Sichuan earthquake recovery efforts, education, poverty allieviation and health [...]

Zong Qinghou/Wahaha – Wahaha founder Zong Qinghou started his beverage company as a mini-grocery in school in 1987 and has been a delegate to the National People’s Congress (NPC) since 2002.  He’ll need all the friends he can get this year after Caijing reported last April that Zong, 63, was being investigated for evading some [...]

#17 Chen Lihua/Fu Wah International – Chen’s is a classic rags-to riches story.  Number 17 on the list with USD 23 billion Chen, 68, was born into a poor family and started out with a small furniture repair shop in 1976.  With the money she earned she began pursuing real estate and trade in Hong [...]