2004 China Rich List
Li Jinyuan - 2004 China Rich List:No.6
| 2004 wealth (US m): |
720 |
| 2003 wealth (US m): |
- |
| age: | 46 |
| birthplace: | Cangzhou, Hebei |
| company: | Tiens Group |
| head office: | Beijing |
| industry: | Direct sales of health care products |
| listing: | Nasdaq – TBGU Tiens Biotech Group (USA) (September 2003) |
| personal info: | This key news this year has been Tiens’ announcement of a US$400 million investment into a Shanghai manufacturing and R&D base, and the completion of its backdoor listing on Nasdaq. With sales last year of US$300 million Tiens today has 3,800 employees and a sales network of nine million customers over 170 countries selling its flagship high calcium health product. Starting out in 1992 with a healthcare business, Li in 1995 switched to the fledgling direct sales industry in China. Despite regulatory concern about the thin line between direct and pyramid sales, Li in 1999 started expanding overseas, first to Russia and then East Europe, with five manufacturing bases overseas today. Li came third on our China Philanthropy List, a list of China’s most generous philanthropists. |
| other list rank: |
