Chan Laiwa

Chan Laiwa
Born	1941[1] Summer Palace, Beijing, China
Citizenship	China
Occupation	Chairman of Fuwah International Group
Net worth	US$2.23 Billion (Aug 2011)[2]

Chan Laiwa is the founder and Chairman of Fuwah International Group, one of Beijing's largest commercial property developers. She is one of only 19 self-made female billionaires in the world.^[2]

Chan is the founder of the China Red Sandalwood Museum, in which she is also the curator. She is also known as one of the cultural diplomats of China.^[2][3]

Early life

Chan Laiwa was born in 1941 in the Summer Palace of Beijing, China. She is a descendant of a noble Manchu family of the Yellow Banner Clan. At the time of her birth, the Manchu imperial family has just collapsed and her family was poor.^[4]

Rise from Poverty

Poverty forced Chan to leave high school and started her own furniture repair business. In the early 1980s, Chan moved to Hong Kong and continue her business of buying and re-selling furniture. Her business in Hong Kong was successful enough that she accumulated enough money to buy 12 villas.^[1]

In late 1980s, she moved back to Beijing to expand her real estate business. She founded Fuwah International Group in the early 1990s. Though its predominant business is real estate, the company also has a diverse portfolio in the fields of agriculture, tourism, electronics, hospitality and red sandalwood art production, etc.^[1]

In recent years, Madam Chan has handed over daily management of her ventures to her son, preferring to concentrate on her museum instead.^[5]

Cultural Contributions & Philanthropy

She founded the China Red Sandalwood Museum in 1999, where she invested 20 Billion Yuan. The museum covers an area of 25,000 square meters.^[1] She attributed her love of red sandalwood from the childhood years she spent in Summer Palace, where furnishings are made of the timber.^[3]

Chan is also known for her social responsibility and philanthropy. Fu Wah donated 130 million yuan for disaster relief in 2005 and 265 million yuan in 2004.^[6]

Personal life

Chan is married, with one son and two daughters. She now resides in her Chinese Red Sandalwood Museum.^[6]

References

1. ^ ^{a b c d} "From Rags to Redwood - China's First Woman Billionaire". http://womenofchina.cn/html/report/123581-1.htm. Retrieved 9 October 2011. 
2. ^ ^{a b c} "Laiwa Chan & family". http://www.forbes.com/profile/laiwa-chan/. Retrieved 9 October 2011. 
3. ^ ^{a b} "Red Sandalwood Treasure". 22 May 2007. http://english.cri.cn/4406/2007/05/22/[e-mail]. Retrieved 9 October 2011. 
4. ^ Pleskacheuskaya, Inesa. "Red Sandalwood Treasure". http://www.chinatoday.com.cn/English/e200310/p68.htm. Retrieved 9 October 2011. 
5. ^ "Chinese Entrepreneurs Special". 6 September 2010. http://womenofchina.cn/html/report/73823-1.htm. Retrieved 9 October 2011. 
6. ^ ^{a b} "Boss Mum". 6 September 2010. http://womenofchina.cn/html/report/73824-1.htm. Retrieved 9 October 2011. 

Persondata
Name	Chan Laiwa
Alternative names
Short description	Busenessperson
Date of birth	1941
Place of birth	Beijing, China
Date of death
Place of death