Liu Yongxing Becomes Cover Figure of Forbes as Mainland Billionaire

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Last updated at: (Beijing Time) Wednesday, March 13, 2002

Liu Yongxing Becomes Cover Figure of Forbes as Mainland Billionaire

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The Forbes Global to be published on March 18 has chosen Liu Yongxing, president of East Hope Group, as its cover figure and carried articles on how the Liu brothers succeeded in becoming billionaires. (Full text of Forbes' story)

In 1982 Liu brothers sold their watches and bicycles to collect 1000 yuan (US$120) as their starting fund. In 20 years time, they have turned their small business of raising quails and chicks into an enterprise for animal fodder, the second in Asia, next only to the CP Group of Thailand in scale and an annual sales-revenue of US$1.2 billion.

Backgrounder: Liu Yongxing and his Hope Group

Liu Yongxing, chairman and representative of Hope Group, believes China has gone through five business cycles since it began opening its markets to the outside world in the early 1980s. The first phase required bravery. The second, technology. The third, capital. The fourth, marketing. And the fifth, modern management.

Hope Group's progress can be charted through those same five cycles. (In Detail)

By PD Online staff member Li Heng

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