Lu Guanqiu
Encyclopedia
Lu Guanqiu is a Chinese
entrepreneur
. He is reportedly the richest person in Zhejiang Province, People's Republic of China
.
, Zhejiang Province, into a peasant
family. When he was 15 years old, he dropped out of school and became an ironsmith
. In July 1969, he co-founded a factory with six other peasants, producing small agricultural machines. Lu later developed his factory into the present Wanxiang Group (萬向集團/万向集团). It eventually became a large manufacturing conglomerate
and a leading producer of automobile facilities and components.
Lu is currently the President of the Board of the Wanxiang Group. His headquarters are in Xiaoshan District, Hangzhou, Zhejiang Province. Lu is also a part-time professor
for the EMBA
program at Zhejiang University
. He also was awarded an honorary doctorate
from the Hong Kong Polytechnic University
.
According to the Forbes Mainland China Rich List (福佈斯中國富豪榜), Lu was ranked No. 33 with 13.13 billion Chinese Yuan
(approximately US$
1.87 billion). Lu is currently the richest individual living in Zhejiang Province.
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. He is reportedly the richest person in Zhejiang Province, People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
.
Biography
Lu was born in January 1945 in Yuhang, HangzhouHangzhou
Hangzhou , formerly transliterated as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China. Governed as a sub-provincial city, and as of 2010, its entire administrative division or prefecture had a registered population of 8.7 million people...
, Zhejiang Province, into a peasant
Peasant
A peasant is an agricultural worker who generally tend to be poor and homeless-Etymology:The word is derived from 15th century French païsant meaning one from the pays, or countryside, ultimately from the Latin pagus, or outlying administrative district.- Position in society :Peasants typically...
family. When he was 15 years old, he dropped out of school and became an ironsmith
Blacksmith
A blacksmith is a person who creates objects from wrought iron or steel by forging the metal; that is, by using tools to hammer, bend, and cut...
. In July 1969, he co-founded a factory with six other peasants, producing small agricultural machines. Lu later developed his factory into the present Wanxiang Group (萬向集團/万向集团). It eventually became a large manufacturing conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
and a leading producer of automobile facilities and components.
Lu is currently the President of the Board of the Wanxiang Group. His headquarters are in Xiaoshan District, Hangzhou, Zhejiang Province. Lu is also a part-time professor
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...
for the EMBA
EMBA
EMBA may refer to:*Executive Master of Business Administration degree*Eastern Marching Band Association...
program at Zhejiang University
Zhejiang University
Zhejiang University , sometimes referred to as Zheda, is a national university in China. Founded in 1897, Zhejiang University is one of China's oldest institutions of higher education...
. He also was awarded an honorary doctorate
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
from the Hong Kong Polytechnic University
Hong Kong Polytechnic University
The Hong Kong Polytechnic University specialises in professional education in Hong Kong. The University’s teaching units are grouped under six faculties and two schools; the Faculty of Applied Science and Textiles, Faculty of Business, Faculty of Construction and Environment, Faculty of...
.
According to the Forbes Mainland China Rich List (福佈斯中國富豪榜), Lu was ranked No. 33 with 13.13 billion Chinese Yuan
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
(approximately US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
1.87 billion). Lu is currently the richest individual living in Zhejiang Province.