- Zong Qinghou
Infobox_Celebrity
name = Zong Qinghou
宗庆后
children = Zong Fuli (daughter)
spouse = Shi Youzhen
birth_date = birth year and age|1945|10
birth_place =Hangzhou ,Zhejiang , PRC
death_date =
death_place =residence = China, USA
nationality = Chineseoccupation =
Chairman andCEO ,Hangzhou Wahaha Group
networth = profit$1.1 billionUSD Zong Qinghou (宗慶後), born 1945, is a Chinese entrepreneur, founder, Chairman and
CEO of theHangzhou Wahaha Group , the leading beverage company in Chinacite news | publisher =South China Morning Post |title = Danone set to sue Wahaha over breach of contract |date = April 11, 2007 |page = B3] . Ranked China’s 23rd-richest man [Vivian Wai-yin Kwok, [http://www.forbes.com/markets/2007/06/14/danone-wahaha-zong-markets-equity-cx_vk_0614markets3.html "Danone's Chinese Food Fight Gets Messier"] ,Forbes , June 14, 2007, Accessed 2007-06-21] and 840th in the world [http://www.forbes.com/lists/2007/10/07billionaires_Zong-Qinghou_NW67.html Zong Qinghou] , "The World's Billionaires",Forbes , Accessed 2007-06-21] by Forbes,Hurun Report estimated him to have personal wealth of US$1 billion in 2006.Zong is a delegate to the Chinese
National People's Congress .Biography
Zong is a native of
Zhejiang , and has had little formal education. After graduating from secondary school, Zong worked at theZhoushan salt farm. He returned home in 1979 on the retirement of his mother, who was a teacher [http://unn.people.com.cn/BIG5/41495/41500/3037676.html “娃哈哈”的新童話] (轉載自証券日報)People's Daily , zh icon] . He eventually returned toHangzhou , and only found menial work at a local school due to the low level of his education. In 1987, he targeted a minigrocery in a school inShangcheng District ，Hangzhou, selling milk . Zong headed the embryonic Wahaha business, which distributed fizzy soft drinks, ice and stationery. Together with two retired schoolteachers, he borrowed the sum of CNY 140,000, to start producing milk drinks for distribution.He obtained independence from an early government partner by stressing his links with Danone. With his autocratic style and workaholic ethic, he built Wahaha into the largest beverage manufacturer in the People's Republic of Chinacite news | publisher =
South China Morning Post |title = Danone and Wahaha vie for the last laugh |date = June 11, 2007 |page = B3] .The WHH joint venture entered into with
Groupe Danone involved the inward investment of US$70 million in fivejoint venture companiesin exchange for 51% Groupe Danone ownership in each company. The trademark agreement signed on 29, 1996 gave the JVs the exclusive rights of production, distribution and sales of products under the Wahaha brandcite press release | url=http://www.danone.com/wps/portal/jump/DanoneCorporateIntl.Press.Commun2004PressReleases?ref=CMS.DanoneCorporateIntl.Press.2006PressReleases.Trimestre1.CP_100407 |publisher = Danone Group|title = "Groupe DANONE confirms being in negotiations with its Chinese partner in beverages, Mr. Zong" |date = April 10, 2007| access date = 2007-04-11] . Collaboration has grown into 39 joint venture entities by 2007cite news | publisher =South China Morning Post |title = "Danone and Wahaha vie for the last laugh" |date = June 11, 2007 |page = B3] .In 2007, the relationship had started to turn sour when Danone attempted to gain control of the company. Zong, who had been left to manage the business without any intervention from Danone, resigned as Chairman of the joint ventures on June 5, 2007cite press release | url=http://www.danone.com/wps/portal/jump/DanoneCorporateIntl.Press.Commun2004PressReleases?ref=CMS.DanoneCorporateIntl.Press.2006PressReleases.Trimestre1.CP_120607 |publisher = Danone Group|title = "current developments regarding Wahaha dispute" |date = June 12, 2007| access date = 2007-06-21] .
Personal
Zong is a delegate to the Chinese
National People's Congress since 2002. He was re-elected in 2007.Eric Mu, [http://www.danwei.org/law/zong_qinghou.php "Wahaha chairman has US green card"] , "Danwei", June 24, 2008, Retrieved 2008-07-03]His wife is Shi Youzhen (施幼珍), and his daughter is Zong Fuli (宗馥莉). Shi is the Purchasing Manager at WahahaRussell Flannery, " [http://www.forbes.com/markets/2007/06/18/wahaha-zong-wu-markets-equity-cx_rf_0618markets49.html How To Lose In China] ",
Forbes , June 18, 2007, Accessed 2007-06-21] . It was reported in "21st Century Economy Report" that both Zong and Shi have US residency, and their daughter is an American citizen.Zong gained wide support as he acted the "
David " against a French "Goliath " gobbling up Chinese companies. Perceptions have changed since the revelation of his green card, his reputation is damaged. [Ma Wenluo, [http://www.chinastakes.com/story.aspx?id=455 "The Great Green Card Debate in Greater China"] , Chinastakes.com, June 23,2008, Retrieved 2008-07-03]Tax evasion allegations
Zong claimed to have been paid a salary of
Euro 3,000 and Euro100,000 annual allowances plus a bonus worth 1 percent of the annual profit of the joint ventures, totalling 70 million yuan of income every year.Wang Zhenghua, [http://www.chinadaily.com.cn/cndy/2008-04/15/content_6616433.htm "Drinks magnate probed over tax"] , "China Daily ", 15 April 2008, Retrieved: 2008-07-03]"
Caijing " reported in April 2008 that Zong was being investigated for allegedly evading taxes amounting to some ¥ 300 million. An investigator had alleged that Zong "...earned far more than this and hasn't fully reported the tax for years". "Caijing " implied there may have been less than transparect payments through web of Hong Kong-registered accounts of Zong, Shi, daughter Fuli; and the former Party secretary of Wahaha, Du Jianying. Zong had apparently paid more than 200 million yuan in back taxes in October 2007, after the investigation kicked off. However, the magazine suspected Zong still owed millions more.References
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