Key figures

Source:Global Times Published: 2014-12-18 21:13:02

The biggest names in business in 2014


Editor's Note:

With the end of 2014 approaching, the Global Times has chosen six businesspeople of the year, based on their influence on the country's economic development and their leading role in the growth of various sectors. This is the third of six issues dedicated to key aspects of the Chinese economy in 2014.

Skyline of the Lujiazui Financial District in Shanghai Photo: CFP





Jack Ma Yun Chairman and founder of Alibaba Group Holding Ltd



  

Jack Ma Yun

Chairman and founder of Alibaba Group Holding Ltd

Ma's company floated in the US on September 19, setting the record for the world's largest-ever IPO, with its shares rising more than 40 percent on their market debut.

He was also ranked as the richest man in China after the IPO, with a fortune of 150 billion yuan ($24.15), according to the Hurun Rich list 2014.

Ma is one of the Chinese businesspeople of 2014 not just because of his personal success, but also because Alibaba has created many opportunities for other businesses. The number of online retailers on taobao.com, an e-commerce platform owned by Alibaba, has reached 9 million, Ma said during a symposium chaired by Chinese Premier Li Keqiang on October 31.

Premier Li praised Ma, saying his company had boosted consumption in China, referring to the huge success of the Singles' Day shopping bonanza that Alibaba helped create six years ago. Data from Alibaba showed that goods worth about $5.29 billion were sold on the company's tmall.com platform before noon on November 11, Singles' Day, this year.

 

Wang Jianlin Chairman of Wanda Group





Wang Jianlin

Chairman of Wanda Group

Wang has become well known for his Wanda Plaza complexes, which include residences, shopping malls, five-star hotels and entertainment facilities such as cinemas. This year, his business has expanded quickly into overseas markets, both in the property sector and more diversified areas such as e-commerce.

Dalian Wanda Commercial Properties Co, the company's real estate arm and the country's largest commercial property developer in terms of revenue, started the roadshow for its Hong Kong IPO on December 8, with the listing expected to raise around HK$28.8 billion ($3.72 billon).

Wanda Cinema Line Co is also planning a listing, and media reports have predicted that Wang will surpass Jack Ma Yun as China's richest man after the planned IPOs.

Wanda Group also announced in August that it would launch an e-commerce joint venture with domestic Internet powerhouses Tencent Holdings and Baidu Inc. Wang has pledged to build the world's largest online to off-line (O2O) platform.

Li Yining Economist at Peking University







Li Yining

Economist at Peking University

Li is well-known for several major economic theories, including his proposal in 1980 that a joint-stock system should be set up for Chinese enterprises. He has also stressed the importance of employment in a country's economy, and called for greater development of private business. He also suggested to push forward the country's urbanization. 

Experts believe Li's academic theories have made contributions to the drafting of government policies. He has also been featured in numerous media reports this year, partly because he was Premier Li Keqiang's doctoral supervisor when he studied at Peking University.

Premier Li has been praised in media reports for his knowledge of economics, and has taken a key role in guiding China's urbanization policy.

Lei Jun CEO and founder of Xiaomi Technology Co



Lei Jun

CEO and founder of Xiaomi Technology Co

Lei Jun's ranking on the Hurun Rich list rose to 10th in 2014 from 63rd in 2013, mainly due to Xiaomi's rapid expansion.

A report by Counterpoint Technology Market Research in early November said that Xiaomi had become one of the fastest-growing phone brands in India, having gained a 1.5 percent share of the market.

Overseas expansion helped Xiaomi take third place in terms of global smartphone shipments in the third quarter, behind only Samsung and Apple, according to a report in October by US market research firm IDC.

Analysts said Lei's success was partly due to his company's strong performance in online sales and online promotions.

Dong Mingzhu Chairwoman of Gree Electric Appliances Inc



 

Dong Mingzhu

Chairwoman of Gree Electric Appliances Inc

Dong can be considered one of the Chinese businesspeople of the year, partly because she represents one of the traditional business sectors, the home appliance sector.

Dong has been making efforts this year to boost her company's performance by focusing more on online sales.  

Dong made a bet with Xiaomi CEO Lei Jun in December 2013, saying that "if the sales revenue of Xiaomi surpasses that of Gree within five years, Gree will pay 1 billion yuan to Xiaomi." Lei said publicly in November this year that Dong would lose the bet within one or two years. Xiaomi also announced in December that it would invest 1.27 billion yuan in home appliances maker Midea Group Co, one of Gree's main rivals.

Gree has also started cooperating with Alibaba. On Singles' Day this year, it sold home appliances via tmall.com, with the total sales volume reaching over 100 million yuan.

As Gree has over 20,000 chain stores nationwide, Dong said she is considering an appropriate O2O model to improve both the online and physical chain stores' profits, China Business News reported Tuesday.

Jia Yueting CEO of LeTV Information Technology Co





Jia Yueting

CEO of LeTV Information Technology Co

Jia has been one of the most controversial businessmen in the Internet sector this year. He was reported to have left China in June, amid rumors that he was being investigated by the authorities.

Jia returned to China in November, and did not offer any explanation for his lengthy absence.

On December 9, he announced on his personal Weibo that LeTV will research and develop a new electric car featuring Internet technologies, a move that surprised industry watchers.

LeTV is an online video content provider, and it also produces hardware such as smart television sets.

Analysts said Jia needs to adjust his company's business structure. The domestic online video industry has been challenging this year, partly because of the intense competition, but also because regulations for online video programs have become more strict and operating costs in the industry are significant.



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