Zhang Yin (entrepreneur)
Encyclopedia
Zhang Yin (born 1957 in Shaoguan
, Guangdong
with family roots in Heilongjiang
), also known by her Cantonese name Cheung Yan, is a Chinese
entrepreneur and is the richest individual in greater China. She is the founder and director of the family company Nine Dragons Paper Holdings
, a recycling company that buys scrap paper from the United States
, imports it into China, and mainly turns it into cardboard for use in boxes to export Chinese goods. The company is China's biggest paper maker.
, J.K. Rowling, Giuliana Benetton and Rosalia Mera
. Forbes magazine put her wealth at US$1.35 billion in November 2006, which would have made her then the richest woman in China and the fifth richest person in China. On a later Forbes list she was displaced as China's richest woman by 25-year-old Yang Huiyan
, whose net worth Forbes estimated at $9 billion following the 2007 stock market listing of Country Garden Holdings, a real estate developer run by her father.
As of March 2011 Forbes estimates her wealth to be US$1.6 B and the #782 richest person in the world
Zhang Yin is the daughter of Cheung Deen who had been a lieutenant in the Red Army
and later became general manager of a metallurgy company in Guangdong
. His contacts and connections with the Communist Party would help along her business career.
Zhang Yin opened a paper trading company in Hong Kong
in 1985. In 1990, she moved to Los Angeles
and married the second time. Her husband Ming Chung Liu was born in Taiwan
, grew up in Brazil
and was trained as a dental surgeon. Together they founded the paper exporting company America Chung Nam. This company has been the number one American paper exporter since 2001. It is also the largest overall exporter to China, by volume shipped. Zhang Yin holds a green card
.
Zhang Yin returned to Hong Kong in 1995 and cofounded Nine Dragons Paper with her husband and her younger brother Zhang Cheng Fei.
The company, headquartered in Dongguan
, raised almost $500 million in an initial public offering
in March 2006 at the Hong Kong Stock Exchange
; by the end of 2006 the stock had nearly tripled in value. With plans to invest $800 million and more than double production capacity by 2009, the company could soon become Asia's and even the world's largest maker of packaging paper.
Zhang Yin makes most of the strategic decisions, her husband is CEO, her brother handles general management. Her 24-year-old son Lau Chun is a nonexecutive director. The company has three general managers who are responsible for all aspects of the business; none are family members.
In January 2007, it was reported that Cheung was also a member of the Chinese People's Political Consultative Conference
, a political advisory body for the Chinese government.
Shaoguan
Shaoguan , historically known as Shaokwan and Shao-chow, is a prefecture-level city in the north of Southern China's Guangdong province...
, Guangdong
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
with family roots in Heilongjiang
Heilongjiang
For the river known in Mandarin as Heilong Jiang, see Amur River' is a province of the People's Republic of China located in the northeastern part of the country. "Heilongjiang" literally means Black Dragon River, which is the Chinese name for the Amur. The one-character abbreviation is 黑...
), also known by her Cantonese name Cheung Yan, is a Chinese
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 and is the richest individual in greater China. She is the founder and director of the family company Nine Dragons Paper Holdings
Nine Dragons Paper Holdings Limited
Nine Dragons Paper Limited is a privately-owned paper manufacturing company in Mainland China, engaging in the manufacturing of containerboard products which include linerboard, duplex board as well as pulp. Its CEO and largest shareholder is Ms...
, a recycling company that buys scrap paper from the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, imports it into China, and mainly turns it into cardboard for use in boxes to export Chinese goods. The company is China's biggest paper maker.
Introduction
In October 2006, she became, at the age of 49, the first woman to top the list of richest people in China published by Hurun Report (the Chinese luxury magazine and events group). In 2010 Zhang's personal fortune as valued at approximately US$5.6 billion—meaning that Yin may be the wealthiest self-made woman in the world ahead of Oprah WinfreyOprah Winfrey
Oprah Winfrey is an American media proprietor, talk show host, actress, producer and philanthropist. Winfrey is best known for her self-titled, multi-award-winning talk show, which has become the highest-rated program of its kind in history and was nationally syndicated from 1986 to 2011...
, J.K. Rowling, Giuliana Benetton and Rosalia Mera
Rosalia Mera
Rosalía Mera Goyenechea is one of the richest people in the world. She began designing gowns and lingerie in her home with her then-husband, Amancio Ortega Gaona. The couple parlayed their work into a multi-billion-dollar corporation, Inditex, and the Zara line of clothing stores...
. Forbes magazine put her wealth at US$1.35 billion in November 2006, which would have made her then the richest woman in China and the fifth richest person in China. On a later Forbes list she was displaced as China's richest woman by 25-year-old Yang Huiyan
Yang Huiyan
Yang Huiyan is the majority shareholder of Country Garden Holdings and one of the wealthiest people in Mainland China, with an estimated net worth of $7.4 billion USD as of March 2009...
, whose net worth Forbes estimated at $9 billion following the 2007 stock market listing of Country Garden Holdings, a real estate developer run by her father.
As of March 2011 Forbes estimates her wealth to be US$1.6 B and the #782 richest person in the world
Zhang Yin is the daughter of Cheung Deen who had been a lieutenant in the Red Army
Red Army
The Workers' and Peasants' Red Army started out as the Soviet Union's revolutionary communist combat groups during the Russian Civil War of 1918-1922. It grew into the national army of the Soviet Union. By the 1930s the Red Army was among the largest armies in history.The "Red Army" name refers to...
and later became general manager of a metallurgy company in Guangdong
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
. His contacts and connections with the Communist Party would help along her business career.
Zhang Yin opened a paper trading company in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
in 1985. In 1990, she moved to Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
and married the second time. Her husband Ming Chung Liu was born in Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
, grew up in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
and was trained as a dental surgeon. Together they founded the paper exporting company America Chung Nam. This company has been the number one American paper exporter since 2001. It is also the largest overall exporter to China, by volume shipped. Zhang Yin holds a green card
United States Permanent Resident Card
United States lawful permanent residency refers to a person's immigration status: the person is authorized to live and work in the United States of America on a permanent basis....
.
Zhang Yin returned to Hong Kong in 1995 and cofounded Nine Dragons Paper with her husband and her younger brother Zhang Cheng Fei.
The company, headquartered in Dongguan
Dongguan
Dongguan is a prefecture-level city in central Guangdong province, People's Republic of China.An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to...
, raised almost $500 million in an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in March 2006 at the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
; by the end of 2006 the stock had nearly tripled in value. With plans to invest $800 million and more than double production capacity by 2009, the company could soon become Asia's and even the world's largest maker of packaging paper.
Zhang Yin makes most of the strategic decisions, her husband is CEO, her brother handles general management. Her 24-year-old son Lau Chun is a nonexecutive director. The company has three general managers who are responsible for all aspects of the business; none are family members.
In January 2007, it was reported that Cheung was also a member of the Chinese People's Political Consultative Conference
Chinese People's Political Consultative Conference
The Chinese People's Political Consultative Conference [], shortened as 人民政协, Rénmín Zhèngxié, i.e. "People's PCC"; or just 政协, Zhèngxié, i.e. "The PCC"), abbreviated CPPCC, is a political advisory body in the People's Republic of China...
, a political advisory body for the Chinese government.