Wang Zheng

Wang Zheng (born 23 July 1963), originally named Sheng Chengzong, ancestral home in Changzhou, Jiangsu, is a mainland Chinese real estate entrepreneur, former major investor and de facto controller of Asia Television (ATV). He once vowed to spend twenty years turning ATV into Asia's CNN, but after acquiring it in March 2010 faced continuous controversy, halting new equity injections and instead lending to ATV, later calling the investment his “stupidest decision ever.”

He is chairman of the listed company Rongfeng Holdings, a central committee member and Beijing deputy leader of the Chinese Kuomintang Revolutionary Committee, and served on the 10th and 11th National Committee of the Chinese People’s Political Consultative Conference.

Early life

Wang is the great‑grandson of Sheng Xuanhuai, a Qing‑era industrialist. His step‑father was reputedly Shu Tong, a senior CCP official and PLA military scholar; his birth father was Sheng Yunan; his mother was Wang Yunfei, a veteran of the Eighth Route Army, from whom he took his surname.

In 1980, he placed second in Shanghai municipal exams and was admitted to the Russian department of East China Normal University. After graduation he moved to Hong Kong and obtained permanent residency.

Career

In 1992 he developed an elevated highway in Shanghai and earned RMB 170 billion by acquiring a 90,000 m² plot on Nanjing Road, creating a real‑estate legend. In 1998 he expanded into Beijing real estate, later founding multiple information and advertising firms, and in 2005 invested in Bank of China and Agricultural Bank of China. In March 2011 he was invited to serve as honorary chairman of the Hong Kong Hua Jing Association.

Controversies

Erroneous report of Jiang Zemin’s death

On 6 July 2011 ATV’s 6 pm news falsely announced the death of Jiang Zemin, with the logo in gray. They briefly replaced the 9:30 pm program with a special before reverting. Xinhua and liaison office condemned the breach of journalistic ethics. Fuji News Network and Reuters reported official denials. ATV retracted and apologized on 7 July.

As a major shareholder and Jiang’s relative, Wang told media he only learned of the report watching ATV, saying such mistakes are “inevitable” and “journalists should not overreact.”

Broadcast regulator received 18 complaints.

ATV Executive Vice President Leung Ka-wing resigned taking responsibility for failing to stop the broadcast.

Illicit control of ATV

Regulator found Wang behind‑the‑scenes running of ATV, in breach of his 2010 undertakings; Executive Director Sheng Pin‑ru concealed his involvement. ATV disputed findings and sought judicial review but lost.

Forced celebrity escort events

Reports emerged that ATV artists, Miss Asia and Mr. Asia titleholders were made to entertain mainland guests; refusal led to suspension. Artist “Fast Beat” was fired after revealing details on internet radio.

Ratings dispute with TVB

In April 2011 ATV withdrew from CSM ratings and used HKU PopVote data, claiming a 40/60 split with TVB. Wang threatened legal action over alleged TVB fabrication of viewership. TVB denied and sent legal letters.

ATV training program dismissals

On 21 December 2012 ATV abruptly dismissed four artists for missing mandatory “entertainment training,” described as “brainwashing” classes of 18 hours daily. Wang stormed the class, berated HR, and struck the trainer. Dismissed artists included Ci Dai‑dai, Zhang Qi‑le, Chen Qi‑wen, and “Che Che.”

“Destiny exhausted” remarks and ATV closure

By late 2014 ATV faced severe financial difficulties, missing payroll and license fees. In March 2015 Caixin interviewed Wang, who said ATV’s “destiny is exhausted” and without miracles would close by month’s end. ATV denied he said that. Caixin clarified he meant closure without rescue. On 1 April 2015 the government refused ATV’s license renewal, and at 00:00 on 2 April 2016 ATV ceased broadcasting.

Winding‑up petition

On 5 February 2016 ATV announced inability to pay salaries; Wang applied to the High Court to wind up the company. The petition (HCCW39/2016) remains under consideration post‑closure.