2004 China Rich List
Xu Ming - 2004 China Rich List:No.24
| 2004 wealth (US m): |
340 |
| 2003 wealth (US m): |
315 |
| age: | 33 |
| birthplace: | Zhuanghe, Liaoning |
| company: | Shide Group |
| head office: | Liaoning |
| industry: | PVC profiles, soccer, finance and petrochemicals |
| listing: | Shanghai – 600146 Ningxia Dayuan Chemicals (December 2000), Shanghai – 600480 Lingyun August 2003) |
| personal info: | This year has seen Shide continue to position itself in China’s petrochemicals business, announcing a 50% joint venture with a Saudi petrochemicals company to build a whopping US$5 billion ethylene plant in China’s North East. Shide has also won a rare licence to import and retail crude and refined oil, which it will use to distribute its products. Amongst all this, Xu has found the time to be involved in the ultimately unsuccessful takeover talks with Leeds United, a UK Premiership soccer club. With sales last year of US$630 million, (2002: US$580 million) mainly from its PVC profiles and paying taxes of US$30 million, Shide has 6,100 employees. Xu started in construction, before entering the PVC profile industry in 1994 and later taking over China’s top football team. Shide’s interests today include a local commercial bank and insurance. |
| other list rank: |
