Xu Jingren Explained
Xu Jingren |
Native Name: | 徐镜人 |
Birth Date: | 15 September 1944 |
Birth Place: | Taizhou, Jiangsu, China |
Education: | B.A. |
Occupation: | Pharmaceutical executive, philanthropist |
Children: | 2 |
Xu Jingren (; September 15, 1944 – July 12, 2021) was the chairman and president of Yangtze River Pharmaceutical Group,[1] National People's Congress delegate and honorary vice-minister in China's Ministry of Health. Xu had been an outspoken research leader in China, where he had frequently called for labor reform and business regulation.[2] As of 2021, his estimated net worth was USD$4.6 billion,[3] one of four family members to be listed among the world's wealthiest. He died on 12 July 2021.[4]
Personal life
The family were noted victims of the 2015 Chinese stock market crash, during which they lost approximately 40% of their previously estimated USD$8 billion combined net worth.[5] Despite this, Xu Jingren and his relatives continue to be mentioned as one of China's top "vampire billionaire" families with majority investments abroad.[6] [7] [8] Notable international initiatives include the 2017 YRPG subsidiary[9] merger and rebranding of global drug manufacturer ShangPharma[10] by group CEO Michael Hui and board vice-chair Aaron Shang, with a stated intent of expanding North American operations leading to development of San Francisco-based venture portfolio ShangPharma Innovation.[11] [12] [13]
Notes and References
- Web site: Company Overview of Jiangsu Yangtze River Pharmaceutical Group Company Ltd.. Bloomberg.com/. Bloomberg Business.
- Web site: Deputy: cost cutting affects public health. Npc.gov.cn. NPC.
- Web site: Xu Jingren Net Worth. Forbes.com.
- Web site: 扬子江药业董事长徐镜人7月12日晚离世,曾表示坚持不上市.
- Web site: China's Richest Billionaires Lost $195 Billion In One Month Amid Stock Market Rout. Forbes.com. 22 October 2015.
- Web site: Lu Stout. Kristie. Meet China's 1%: The billionaires in Beijing's halls of power. edition.cnn.com/. 23 July 2015 . CNN. 22 October 2015.
- Web site: Hoogewerf. Richard. Who are China's 'vampire' billionaires?. money.cnn.com/. CNN. 22 October 2015.
- Web site: Branigan. Tania. Politburo, army, casinos: China's corruption crackdown spreads. Theguardian.com. 14 February 2015. The Guardian UK. 22 October 2015.
- Web site: Yangtze River Pharmaceutical(Group) Co.. 11 January 2019. CPhI SEA Bangkok is Calling. en. 19 December 2019.
- ShangPharma Corporation Announces Completion of Merger. Corporation. ShangPharma. www.prnewswire.com. en. 19 December 2019.
- Web site: ShangPharma Announces Second Milestone in Move to Enter Chinese Capital Market. 2017. ChemPartner.com.
- Web site: How this Chinese biotech player is building and boosting a network of startups. www.bizjournals.com. 19 December 2019.
- Web site: ShangPharma Innovation Incubator Expansion Is Taking Strong Root in the Bay Area. BioSpace. en-US. 19 December 2019.