Chinese Software Giant Starring 2002 'Business Week'

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Last updated at: (Beijing Time) Thursday, July 04, 2002

Chinese Software Giant Starring 2002 'Business Week'

Wang Wenjing, chairman of the UFSoft, was selected as the "2002 Asian Star" by the US magazine of 'Business Week'. Owing to the global economy slowdown only as less as 20 Asians were selected this year compared to 50 last year, marking Wang the only one Chinese entrepreneur.

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Wang Wenjing, chairman of the UFSoft, was selected as one of the "2002 Asian Stars" by the US magazine of 'Business Week'. Owing to the global economy slowdown only as less as 20 Asians were selected this year compared to 50 last year, marking Wang the only one Chinese entrepreneur.

According to the latest "Business Week" issue to be published on 8th July, the "2002 Asian Stars" award covers five such people as managers, innovators, new-concept-advocators, entrepreneurs and financiers.

The magazine notes that Asia has experienced a great change last year. China has been remaining high economic growth despite world slump and most of the Asian countries even including Japan have started to gain economy recovery and growth five years after the Asian financial crisis. The 20 "Asian Stars" can reflect the development trend.

Wang Wenjing, age 36, coming from rural Shangrao of Jiangxi Province, was enrolled as an exception by Jiangxi Finance University at the age of 15.

He started his career in the finance department within the official affairs administrative bureau of the State Council, responsible for designing software for governmental financial management. As he himself said, he was a "golden phoenix" in other people's eyes at that time, seemingly quite successful.

However, he was not content with things as they were. In 1988, 24-year-old Wang Wenjing resolutely resigned his job and established the UFSoft with several university classmates with a registered capital of 50,000 yuan. He surmounted difficulties one after another and finally made good achievements. Currently 3,400 branches of the China Industrial and Commercial Banks all use the software offered by the UFSoft.

The company generated US$ 40 million of revenue last year with a profit of 8.4 million. Wang's next goal is to push his company to the world top 50 in the field of software research and development ahead of 2010.

By PD Online Staff Yang Ruoqian

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