Li Shuirong & family
Overview
- Source of Wealth
- Petrochemicals
- Industry
- Manufacturing
- Residence
- Hangzhou
- Marital Status
- Married
- Children
- 1
Assets
- Ningbo United Group Co Ltd61,350,000 shares @ --600051-CN
- Ningbo United Group Co Ltd0 shares @ --600051-CN
- Rongsheng Petro Chemical Co Ltd6,309,620,000 shares @ --002493-CN
- Rongsheng Petro Chemical Co Ltd0 shares @ --002493-CN
- Yibin Tianyuan Group Co Ltd52,600,000 shares @ --002386-CN
Biography
Li Shuirong is the chairman of Zhejiang Rongsheng Holding Group, which has interests in petrochemicals, logistics and real estate.
Li, who previously tried to make a living as a carpenter, started his first business in 1989 after spotting an opportunity in the polyester fiber cloth market.
Li is also the chairman of the group's Shenzhen-listed arm Rongsheng Petrochemical, where his son-in-law, Xiang Jiongjiong, serves as general manager.
In 2023 Rongsheng Petrochemical inked a strategic partnership with Saudi Aramco, with the energy and chemicals giant acquiring a 10% stake in the former for $3.4 billion.
In April 2024, the two companies further agreed to each acquire a 50% stake in the other's subsidiary, ZhongJin Petrochemical and SASREF, to jointly develop the subsidiaries' expansion projects.