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Xu Jingren

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In this Chinese name, the family name is Xu.
Xu Jingren
徐镜人
Born15 September 1944
Taizhou, Jiangsu, China
Died12 July 2021(2021-07-12) (aged 76)
EducationB.A.
Occupation(s)Pharmaceutical 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,[1] 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.[2] As of 2021, his estimated net worth was USD$4.6 billion,[3] one of four family members to be listed among the world's wealthiest. He died on 12 July 2021.[4]

Personal life

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

References

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  1. ^ "Company Overview of Jiangsu Yangtze River Pharmaceutical Group Company Ltd". Bloomberg.com/. Bloomberg Business.
  2. ^ "Deputy: cost cutting affects public health". Npc.gov.cn. NPC.
  3. ^ "Xu Jingren Net Worth". Forbes.com.
  4. ^ "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".
  5. ^ "China's Richest Billionaires Lost $195 Billion In One Month Amid Stock Market Rout". Forbes.com. Retrieved 22 October 2015.
  6. ^ Lu Stout, Kristie (23 July 2015). "Meet China's 1%: The billionaires in Beijing's halls of power". edition.cnn.com/. CNN. Retrieved 22 October 2015.
  7. ^ Hoogewerf, Richard. "Who are China's 'vampire' billionaires?". money.cnn.com/. CNN. Retrieved 22 October 2015.
  8. ^ Branigan, Tania (14 February 2015). "Politburo, army, casinos: China's corruption crackdown spreads". Theguardian.com. The Guardian UK. Retrieved 22 October 2015.
  9. ^ "Yangtze River Pharmaceutical(Group) Co". CPhI SEA | Bangkok is Calling. 11 January 2019. Retrieved 19 December 2019.
  10. ^ Corporation, ShangPharma. "ShangPharma Corporation Announces Completion of Merger". www.prnewswire.com (Press release). Retrieved 19 December 2019.
  11. ^ "ShangPharma Announces Second Milestone in Move to Enter Chinese Capital Market". ChemPartner.com. 2017.
  12. ^ "How this Chinese biotech player is building and boosting a network of startups". www.bizjournals.com. Retrieved 19 December 2019.
  13. ^ "ShangPharma Innovation Incubator Expansion Is Taking Strong Root in the Bay Area". BioSpace. Retrieved 19 December 2019.
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