Liu Yongxing
Liu Yongxing | |
|---|---|
| Born | Template:Birth year and age Sichuan Province, China |
| Occupation(s) | Entrepreneur, Businessman |
| Years active | 1970s–present |
| Known for | Founder, chairman, and CEO of East Hope Group |
Liu Yongxing (, born June 1948) is a prominent Chinese entrepreneur, serving as the founder, chairman, and CEO of East Hope Group, a corporation involved in agribusiness, chemical manufacturing, and non-ferrous metals. He holds the honorary presidency of the Shanghai Chamber of Commerce in Sichuan, works as a part-time professor at China Agricultural University, teaches MBA courses, and is a member of the Standing Committee of the Chinese People's Political Consultative Conference (CPPCC).
Personal life
Originating from Sichuan Province, Liu Yongxing has three brothers—Liu Yongyan, Chen Yuxin, and Liu Yonghao—and one sister named Liu Yonghong. Following their family's loss of social standing after the Cultural Revolution, all siblings initially worked as farm laborers.
He completed his education at Xihua University in 1968.
Liu is married to a professional psychologist, and they have one child together. His current residence is in Shanghai.
Career
During the late 1970s, Liu and his brothers launched an electronics business; however, it was soon shuttered due to prevailing views that such enterprises were excessively capitalist.
In 1982, the four brothers combined resources amounting to 1,000 RMB to establish the Hope Group, which concentrated on raising quails and hatching chickens within Sichuan Province. By 1986, they had also founded the Hope Research Center dedicated to animal feed development.
By 1995, the Hope Group divided into four separate companies managed by each sibling: West Hope Group under Chen Yuxin; New Hope Group led by Liu Yonghai; Continental Hope Group headed by Liu Yongyan; while Liu Yongxing retained segments of the agricultural operations and ventured into heavy chemical production and aluminium manufacturing. This expansion culminated in the creation of East Hope Group in 1995, now recognized as one of the globe’s largest aluminium producers.
In 1999, Liu transferred East Hope’s headquarters to Shanghai and officially entered the aluminium sector by 2002.
A 2016 profile examined Liu’s business philosophy amid criticisms regarding East Hope’s environmental footprint. He acknowledged that “environmental challenges are inherent risks in heavy chemical industries,” emphasizing adherence to rigorous standards. Nonetheless, between 2014 and 2016, East Hope received multiple fines for surpassing emissions limits involving SO2, NOx, and dust at facilities located in Shandong, Xinjiang, Henan, and Inner Mongolia.
In 2015, East Hope’s Baotou facility was allocated 4.2 billion yuan for environmental protection upgrades. Furthermore, a newly installed kiln for solid waste treatment at one of its cement plants earned official recognition for innovation from Chinese regulatory bodies.
On 15 December 2016, a failure of a red mud reservoir at East Hope’s Sanmenxia plant resulted in two fatalities. It is notable that government inspections conducted four months prior had certified full compliance with safety regulations. No penalties or sanctions against the company have been reported following this incident.
Awards and honors
In 2002, Liu Yongxing was honored with the “2001 CCTV Top 10 China’s Economic Leaders” award as well as the “Sohu 2001 Top 10 Financial Leaders” accolade.
Wealth
Among China's wealthiest individuals, Liu Yongxing ranks eighteenth on Forbes’ China Rich List with an estimated net worth of $6.6 billion, making him Shanghai’s wealthiest resident. The Bloomberg Billionaires Index placed him ninety-third worldwide with assets valued at $12.3 billion. His brothers are also billionaires managing their own successful enterprises.