CHINA’S 100 RICHEST
FORBES ASIA
- Xiao Yongming
$3.4 BILLION Ì
SOURCE: FERTILIZER
AGE: 52. MARRIED
RESIDENCE: BEIJING
Xiao debuts on the list after he transferred
ownership of his fertilizer business, Zangge Potash,
to Shenzhen-listed Jinguyuan Holding in a $1.3
billion all-stock transaction in July. A subsequent
run-up in the share price more than doubled his
fortune. Xiao, his wife, Lin Jifang, and son Xiao Yao
together own 80% of Jinguyuan. Early in his career
he ran a plastics factory in Sichuan Province. - Huang Rulun
$3.55 BILLION T
SOURCE: REAL ESTATE
AGE: 65. MARRIED, 2 CHILDREN
RESIDENCE: BEIJING
Huang leads the Century Golden Resources Group,
which has investments in Chinese hotels and
shopping malls. In May it invested an undisclosed
amount in electric-car firm Panda New Energy,
which has high hopes of becoming the world’s
largest electric-vehicle producer.
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in the Philippines as part of President Duterte’s war
on drugs.
- Pang Kang
$3.55 BILLION T
SOURCE: SOY SAUCE
AGE: 60.
RESIDENCE: FOSHAN
Pang’s Foshan Haitian Flavoring & Food is China’s
biggest supplier of soy sauce. It also produces
oyster sauce and MSG. The company opened a
new plant in Jiangsu Province in the second quarter
to expand its sales to eastern and northern China.
Haitian is headquartered in Guangdong Province.
- Ke Zunhong
$3.5 BILLION S
SOURCE: PHARMACEUTICALS
AGE: 62. MARRIED
RESIDENCE: CHENGDU
Ke’s Chengdu Kanghong Pharmaceutical develops
products used to treat the nervous system, eyes
and digestion problems. In February the company
received Chinese government approval to perform
a clinical trial of a treatment for Alzheimer’s
disease, a growing problem for the country’s aging
population. Ke chairs the business.
- Ye Chenghai
$3.5 BILLION S
SOURCE: PHARMACEUTICALS
AGE: 73. MARRIED, 2 CHILDREN
RESIDENCE: HONG KONG
A politician turned entrepreneur, Ye chairs
Shenzhen Salubris Pharmaceuticals, which
produces cardiovascular, anticancer and anti-
infective drugs; it trades on the Shenzhen
exchange. Salubris said in March it would work with
Sichuan University to study gene therapy to treat
cancer. Ye was the mayor of Shenzhen in the 1980s.
- Wang Xing
$3.45 BILLION S
SOURCE: E-COMMERCE
AGE: 43.
RESIDENCE: BEIJING
Wang cochairs a business created as a result of
the merger in October 2015 of 2 private Chinese
Web companies: Groupon-like group-buying site
Meituan and Yelp-like Dianping.com. Our estimate
of his fortune follows the sale of a stake in Chinese
online-movie-ticketing business Maoyan.com to
entities controlled by Beijing film-studio billionaire
Wang Changtian. Maoyan, still 31% owned by Wang
Xing, had 30% of China’s online ticketing market
last year.
SUP TDOWN WXUNCHANGED ÌNEW TO LIST 3 RETURNEE IMAGINECHINA
- Che Jianxing
$3.4 BILLION S
SOURCE: FURNITURE RETAIL
AGE: 50.
RESIDENCE: SHANGHAI
The founder of one of China’s largest furniture retailers took up carpentry instead of completing high
school as a youth, paving the way for him and his colleagues in a collective to turn 500 pieces of furniture
into a store that made him $80,000 in 1988. Three decades later his Red Star Macalline chain operates 181
shopping malls around the country, up from 158 a year ago. FORBES ASIA’s estimate of Che’s fortune has
increased this year due to new information about his privately held commercial real estate.
BY BUILDING LASTING RELATIONSHIPS WE HAVE
ACCOMPANIED MANY FAMILIES OVER GENERATIONS.