Xu Jingren | |
---|---|
徐镜人 | |
Born | 15 September 1944
Taizhou, Jiangsu, China |
Died | 12 July 2021 | (aged 76)
Education | B.A. |
Occupation(s) | Pharmaceutical executive, philanthropist |
Children | 2 |
Xu Jingren ( Chinese: 徐镜人; September 15, 1944 – July 12, 2021) was the chairman and president of Yangtze River Pharmaceutical Group, [1] National People's Congress delegate and honorary vice-minister in China's Ministry of Health. Xu had been an outspoken research leader in China, where he had frequently called for labor reform and business regulation. [2] As of 2021, his estimated net worth was USD$4.6 billion, [3] one of four family members to be listed among the world's wealthiest. He died on 12 July 2021. [4]
The family were noted victims of the 2015 Chinese stock market crash, during which they lost approximately 40% of their previously estimated USD$8 billion combined net worth. [5] Despite this, Xu Jingren and his relatives continue to be mentioned as one of China's top "vampire billionaire" families with majority investments abroad. [6] [7] [8] Notable international initiatives include the 2017 YRPG subsidiary [9] merger and rebranding of global drug manufacturer ShangPharma [10] by group CEO Michael Hui and board vice-chair Aaron Shang, with a stated intent of expanding North American operations leading to development of San Francisco-based venture portfolio ShangPharma Innovation. [11] [12] [13]