Liu Yongxing Biography
Liu Yongxing is a Chinese entrepreneur. He is the founder, chairman, and CEO of East Hope Group, a Chinese conglomerate with interests in agribusiness, chemicals, and nonferrous metals.
How old is Liu Yongxing? – Age
Liu is 75 years old as of 2023. He was born in 1948 in Sichuan, China.
Liu Yongxing Education
He graduated from Xihua University in 1968.
Liu Yongxing Family
He was born and raised in Sichuan, China, to his parents, however, Liu Yongyan, Chen Yuxin, and Liu Yonghao are his three brothers, while Liu Yonghong is his sister.
Liu Yongxing Wife- Child
Liu is married to his wife a psychologist by training, with whom he has one child Liu Shawn. The family resides in Shanghai.
Liu Yongxing East Hope Group
They began as low-status farm workers due to their ancestors’ fortune as wealthy landlords prior to the Cultural Revolution. In 1982, Liu YongXing and his three brothers gathered 1,000 RMB and established the “Hope Group.” In the Sichuan Province, the business consisted of growing quail and hatching chickens. In 1986, they also founded the Hope Research Center for Animal Feeds.
West Hope Group (Chen Yuxin), New Hope Group (Liu Yonghai), and Continental Hope Group were formed in 1995 after the Hope Group was broken up among the siblings (Liu Yongyan). Liu Yongxing kept some of the agriculture company and moved into the heavy chemical and aluminum industries, eventually forming the East Hope Group in 1995, one of the world’s largest aluminum producers. Liu Yongxing moved his East Hope headquarters to Shanghai, China, in 1999. Yongxing began his career in the aluminum sector in 2002.
In August 2016, the Chinese news portal Sohu published a profile of Liu Yongxing and his business technique. In response to complaints that East Hope industries pollute the environment, Liu is quoted in the article as saying, “In the heavy chemical sector, environmental difficulties are a common risk, so I do everything in accordance with the most strict requirements.” Despite this, East Hope Group has been fined, forced production cuts, and technical upgrades on several occasions for breaking environmental standards. For example, the Group’s factories in Shandong, Xinjiang, Henan, and Inner Mongolia were fined in 2014, 2015, and 2016 for exceeding SO2, NOx, and dust emission caps.
According to East Hope sources, the company’s Baotou facility received 4.2 billion yuan in financing in 2015 to incentivize updating its environmental protection systems, while a new kiln for solid waste disposal at one of the company’s cement plants was viewed as creative by Chinese authorities. A red mud reservoir at East Hope’s Sanmenxia plant failed on December 15, 2016, killing two persons. The local government conducted safety checks at East Hope factories four months before to the tragedy, amid another red mud discharge issue in the province, and approved their full compliance with the rules. There have been no reports of the corporation facing any consequences as a result of the disaster.
Liu Yongxing Wealth – Net Worth
He is recognized as one of China’s wealthiest individuals. With a net worth of $6.6 billion, he was rated #18 on Forbes’ China Rich List, making him the richest Shanghai inhabitant. With $12.3 billion, he is rated #93 on Bloomberg’s Billionaires Index. His brothers are also multibillionaires and business owners.