Top 10 influential businessmen of modern China
- By Zhang Junmian
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E-mail China.org.cn, October 30, 2011
Rong Yiren 榮毅仁
Born in Wuxi, Jiangsu Province, Rong Yiren (1916-2005) was the Vice President of the People's Republic of China from 1993 to 1998. His father Rong Desheng and his uncle Rong Zongjing were the owners of one of the biggest industrial groups focusing on flour and cotton yarn in modern China. Shortly after graduation from the Christian-run St. John's University, Rong began to assist in the family business and took over all the family's 24 enterprises in the late 1940's.
In 1956, Rong brought all of his family businesses under the joint state-private ownership, out of the unselfish consideration of helping rejuvenate the country's national industries. In 1979, he founded the China International Trust and Investment Group (CITIC) as a channel to attract foreign investment and introduce advanced technologies for China's reform and opening up. His efforts pushed the CITIC onto the fast track of development. The group is now a giant state-owned conglomerate.
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