Xu Rongmao ( Eng. Xu Rongmao , Eng. Hui Wing Mau , Chinese Trad. 許榮茂 , Ex .; Born 1950) - Chinese businessman, founder of Shimao Property Holdings - the largest construction company in Shanghai , owner of Shimao Group .
| Xu Rongmao | |
|---|---|
| Xu rongmao 许荣茂 許榮茂 | |
| Date of Birth | 1950 |
| Place of Birth | Shishi , Fujian , PRC |
| Citizenship |  |
| condition | 3.85 billion (2009) [1] |
| Company | Shimao Property Holdings |
| Position | Chairman |
| Awards and prizes | [d] |
Biography
Xu Rongmao was born and raised in Fujian . He was the eldest of eight children. After graduating from school, during the Cultural Revolution in China, he was sent to the village to work as a doctor. In the 1970s, Xu Rongmao emigrated to Hong Kong and worked in a textile factory.
In 1988, Xu Rongmao promises to invest 1.2 billion yuan in the creation of knitwear production in his hometown, but instead he is building a hotel , although private hotels were banned at the time in China. However, by the end of construction, government policies are changing, and private ownership of hotels becomes possible. So Xu Rongmao becomes the owner of the first private three-star hotel in China. After that, he begins to invest in housing and the creation of resorts in Fujian province .
In the 1990s, literally on the eve of price increases, its business expands to Beijing and Shanghai .
In the 2000s, Xu Rongmao increases the company by acquiring public companies . So there are companies Shimao Holdings , Shimao International and Shimao Property [2] [3] .
On September 14, 2008, it was reported that Xu Rongmao was interested in acquiring the English football club Newcastle United [4] .