Xu Jingren

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Xu Jingren
徐镜人
Born15 September 1944
Died12 July 2021(2021-07-12) (aged 76)
EducationB.A.
OccupationPharmaceutical executive, philanthropist
Children2

Xu Jingren (Chinese: 徐镜人; September 15, 1944 – July 12, 2021) was the chairman and president of Yangtze River Pharmaceutical Group,[2] 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.[3] As of 2018, his estimated net worth was USD$4.6 billion,[4] one of four family members to be listed among the world's wealthiest. He died on 12 July 2021.[5]

Family[edit]

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.[6] Despite this, Xu Jingren and his relatives continue to be mentioned as one of China's top "vampire billionaire" families with majority investments abroad.[7][8][9] Notable international initiatives include the 2017 YRPG subsidiary[10] merger and rebranding of global drug manufacturer ShangPharma[11] 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.[12][13][14]

References[edit]

  1. ^ "Xu Jingren". Forbes.com. Retrieved 5 October 2018.
  2. ^ "Company Overview of Jiangsu Yangtze River Pharmaceutical Group Company Ltd". Bloomberg.com/. Bloomberg Business.
  3. ^ "Deputy: cost cutting affects public health". Npc.gov.cn. NPC.
  4. ^ "Xu Jingren Net Worth". Forbes.com.
  5. ^ "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".
  6. ^ "China's Richest Billionaires Lost $195 Billion In One Month Amid Stock Market Rout". Forbes.com. Retrieved 22 October 2015.
  7. ^ Lu Stout, Kristie. "Meet China's 1%: The billionaires in Beijing's halls of power". edition.cnn.com/. CNN. Retrieved 22 October 2015.
  8. ^ Hoogewerf, Richard. "Who are China's 'vampire' billionaires?". money.cnn.com/. CNN. Retrieved 22 October 2015.
  9. ^ Branigan, Tania (14 February 2015). "Politburo, army, casinos: China's corruption crackdown spreads". Theguardian.com. The Guardian UK. Retrieved 22 October 2015.
  10. ^ "Yangtze River Pharmaceutical(Group) Co". CPhI SEA | Bangkok is Calling. 11 January 2019. Retrieved 19 December 2019.
  11. ^ Corporation, ShangPharma. "ShangPharma Corporation Announces Completion of Merger". www.prnewswire.com. Retrieved 19 December 2019.
  12. ^ "ShangPharma Announces Second Milestone in Move to Enter Chinese Capital Market". ChemPartner.com. 2017.
  13. ^ "How this Chinese biotech player is building and boosting a network of startups". www.bizjournals.com. Retrieved 19 December 2019.
  14. ^ "ShangPharma Innovation Incubator Expansion Is Taking Strong Root in the Bay Area". BioSpace. Retrieved 19 December 2019.