CHINA’S 100 RICHEST
FORBES ASIA
- Wu Zhigang
$2.35 BILLION Ì
SOURCE: FOOD
AGE: 81.
RESIDENCE: SHENYANG
Wu debuts following the IPO in Shanghai of
bakery chain Shenyang Toly Bread in December - The company operates about 120,000 retail
outlets in China. Wu, who chairs the company,
started as a teacher at an industrial school before
founding the chain with his son Wu Xuequn in
1995; Xuequn is the company’s general manager. - Feng Hailiang
$2.3 BILLION S
AGE: 56. MARRIED, 2 CHILDREN
RESIDENCE: ZHUJI
Feng’s fortune has grown over the past year
along with a rise in copper prices, which benefits
his Zhejiang-based Hailiang Group, whose
businesses include copper smelting, real estate,
education and agribusiness. In April Shenzhen-
listed copper processing firm Zhejiang Hailiang
completed the acquisition of JMF, an American
supplier of insulating tubes, for $30 million. Feng
started a trading company in 1985. The group’s
Natregro provided half the vegetables served at
the G20 gathering in Hangzhou this year. - Xiao Wenge
$2.4 BILLION Ì
SOURCE: ADVERTISING
AGE: 49.
RESIDENCE: BEIJING
Xiao Wenge, also known as Peter Xiao, is a key
force behind DMG Entertainment & Media, a
China-U.S. movie and TV studio that produced
Iron Man 3 and Point Break. He stepped down
as chairman in November 2015 but owns nearly
78% of the Shenzhen-listed business. In January
DMG said it would team up with Hasbro to create
“Transformers Live,” a live-action robot spectacle
featuring Transformers characters. He joins the
list after reducing the number of DMG shares he
pledged as collateral for loans. - Zhang Guiping
$2.4 BILLION 3
SOURCE: REAL ESTATE
RESIDENCE: NANJING
Zhang returns to the list for the first time since
2013 primarily because he reduced the number
of shares of his Shenzhen-listed real estate
developer, Suning Universal, that were pledged
as collateral for loans. Suning has invested in
cosmetic surgery hospitals and health insurance
companies this year. Zhang’s brother Jindong
ranks No. 41 on this year’s list.
SUP TDOWN WXUNCHANGED ÌNEW TO LIST 3 RETURNEE IMAGINECHINA
- Cai Kui
$2.45 BILLION S
SOURCE: REAL ESTATE
AGE: 52. DIVORCED, 1 CHILD
RESIDENCE: CHENGDU
Cai cofounded real estate developer Longfor
Properties with his then-wife, Wu Yajun (No. 42),
one of China’s richest women, and owns about
28% of publicly traded Longfor. They divorced in
- He has no operational role in the business.
- Chen Bang
$2.45 BILLION S
SOURCE: HOSPITALS
AGE: 51. MARRIED
RESIDENCE: CHANGSHA
The Changsha businessman has prospered due
to a timely investment in a nationwide eye care
chain, Aier Eye Hospital Group. He owns 50% of
the Shenzhen-listed company, which has more
than 100 eye hospitals in 27 provinces in China.
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stake in Qihoo 360 Technology, a Chinese online
security software firm.
- Jiang Weiping
$2.4 BILLION Ì
SOURCE: BATTERIES
AGE: 61. MARRIED
RESIDENCE: CHENGDU
Jiang chairs Shenzhen-listed Sichuan Tianqi
Lithium Industries, which produces lithium
products and chemicals. He joins the list
following a 100% surge in the company’s
stock over the past 12 months. He worked as
a technician, administrator and sales engineer
before starting his own business in 1997.
- Li Wa
$2.4 BILLION 3
SOURCE: REAL ESTATE
AGE: 50.
RESIDENCE: SHENZHEN
Li spent 5 years in the mid-1980s working for the
Communist Party’s Youth League. He got into
real estate in 1992. His Excellence Group has
developed commercial and residential buildings
in 14 Chinese cities. In August Excellence said it
will work with the Four Seasons and Accor Hotels
to build 6 hotels in China. Revenue at closely held
Excellence last year exceeded $3 billion. A rise
in real estate valuations returns him to the list
this year.
- Xu Jingren
$2.35 BILLION Ì
SOURCE: PHARMACEUTICALS
AGE: 72. MARRIED, 2 CHILDREN
RESIDENCE: TAIZHOU
Xu chairs Yangtze River Pharmaceutical Group, which produces antibiotics. A government-controlled
predecessor firm hired Xu following his military service in the 1970s. Yangtze River. a private company
27% owned by Xu’s son Xu Haoyu, had sales of $7.4 billion in 2015.
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