2004 Bentley Power List
Xu Rongmao - 2004 Bentley Power List:No.5
| personal info: | One of China’s best-known high-end real estate developers, Shimao this year is developing six five-star hotels, and begun to expand overseas with a US$100 million project in Malaysia and involvement in the development of a special trade zone between Russia and China. Its high-profile developments have attracted local governments around the country, including Nanjing, Harbin, Fuzhou, Beijing and Shanghai this year. With its flagship Shimao Riviera leading Shanghai’s sales for the third year running, Shimao last year had sales of US$840 million (2003: US$540 million), paying taxes of more than US$60 million for the second year and with 2,000 employees. Xu, a former stockbroker, returned to China from Australia in the early nineties catching the real estate boom first in Fuzhou, then expanding to Beijing in 1995 and Shanghai in 2000. Xu is a delegate to the CPPCC. |
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