Xu Ming
Xu Ming | |
|---|---|
| Born | 1971-04 Dalian, Liaoning Province, China |
| Died | 2015-12-04 |
| Occupation | Businessman |
| Known for | Founder of Dalian Shide Group; chairman of Dalian Shide F.C. |
Xu Ming (; April 1971 – 4 December 2015) was a notable Chinese businessman and billionaire. He established the diversified enterprise Dalian Shide Group and served as chairman of Dalian Shide F.C., a dominant force in Chinese football during the 2000s. In 2005, Forbes placed him eighth among China's wealthiest individuals, estimating his net worth at US$1.05 billion, which decreased to $690 million by 2011. The 2013 Hurun Report appraised his fortune at approximately US$490 million, ranking him 676th nationally.
Xu maintained influential connections with senior officials, particularly former Politburo member Bo Xilai. After Bo's political collapse in 2012, Xu was detained and provided testimony during Bo's 2013 trial, culminating in Bo receiving a life sentence. Xu was incarcerated and passed away in December 2015, shortly before his anticipated release.
Early life and career
Born in Dalian, Liaoning Province in Northeast China, Xu Ming earned a master's degree from the Shenyang Institute of Aeronautical Engineering (now Shenyang Aerospace University) alongside an MBA from Dongbei University of Finance and Economics.
His career began in 1990 at the Foreign Economic and Trade Commission of Zhuanghe, a county-level city governed by Dalian. Within a year, he left government service to launch construction firms, securing contracts for major earthmoving projects at Shengli Square and Xinghai Square in Dalian—both projects receiving acclaim from city officials.
Dalian Shide Group
In 1992, Xu founded Dalian Shide Group Co. Ltd., acquiring additional government contracts aimed at urban development in Dalian. During this period, he forged a close association with Bo Xilai, who served as mayor of Dalian from 1992 to 2000.
Xu ventured into the plastics sector in 1995 by creating Shide Plastics Industry Corporation, investing 600 million yuan (US$72 million) by 1998. That year, Shide became the first Chinese firm to obtain the ISO 9002 quality management certification. Presently, Shide stands as a leading global manufacturer of chemical building materials and has expanded into banking and insurance since the early 2000s.
Dalian Shide Football Club
As owner and chairman of Dalian Shide F.C., Xu oversaw one of China's most successful football clubs throughout the 2000s Chinese Jia-A League era. He purchased the club in 2000 from billionaire Wang Jianlin. In 2009, he sought to sell the team for 600 million yuan (US$98 million), but the deal did not materialize. The club ceased operations in 2012 following Xu’s detention. Although reportedly lacking personal interest in football, his investment was largely motivated by support for mayor Bo Xilai, an avid fan of the team.
Relationship with government officials
Xu developed strong relationships with families within China's political hierarchy, especially those of Bo Xilai and former premier Wen Jiabao. He provided financial assistance to Bo’s family, including covering expenses during their visits to the UK. In the late 1990s, Xu became acquainted with Zhang Peili, Wen Jiabao’s wife, while working in the same office building. He also dated Wen Jiabao's daughter Wen Ruchun and maintained ties with Wen’s son Wen Yunsong. Despite rumors circulating in 2002 that Xu was Wen Jiabao’s son-in-law, he denied such claims. After his relationship with Wen Ruchun ended, Xu aligned himself more closely with Bo Xilai as Bo advanced on the national political stage.
Downfall and trial
In early 2012, Bo Xilai faced allegations of corruption and was subsequently detained, with Xu Ming soon following suit. After unsuccessful negotiations to merge with a competing football club, Xu's team was disbanded. Leadership of the Shide Group then passed to his brother, Xu Bin.
By August 2013, Bo was formally accused of accepting bribes totaling 21.79 million yuan (approximately US$3.56 million) from Xu Ming and Tang Xiaolin. During the court proceedings, Xu admitted to making payments of $3.23 million in 2000 to Bo's wife, Gu Kailai, for a French villa, as well as covering travel and credit card bills for their son, Bo Guagua. However, Xu maintained that Bo Xilai was largely unaware of these transactions. Ultimately, Bo was sentenced to life imprisonment for corruption and abuse of power, while Xu received a four-year prison term starting from 2012.
Death
Xu Ming passed away on 4 December 2015 at the age of 44 due to a heart attack while incarcerated in a Wuhan prison, occurring less than a year before his anticipated release date. His remains were cremated shortly thereafter and returned to his native city of Dalian. Although some experts raised questions regarding the circumstances surrounding his death and the swift cremation process, no evidence indicated any foul play.