Liang Wengen: Defying the Global Financial Crisis

China is a country known to be the home of entrepreneurs who have magnificently defied the odds to attain success in any given situation. Numerous Chinese businessmen were born into a life of poverty, but managed to become some of the richest people in the country and around the world.

One of these is Liang Wengen, Chairman of the Sany Group, one of the top construction machinery companies in the country. Liang is reported to be worth $11 billion and is the richest person in China, according to a research done by Hurun Research Institute.

Born in 1956 to a poor peasant family, Liang was once a lowly manager in an arms plant. However, he became involved in the construction equipment industry and this is where he was able to build his fortunes. He founded the Sany Group and despite the global financial crisis, he was able to build the company into a major force in China’s construction equipment industry.

Much of the company’s success was due to China’s resilient economy. When the world was undergoing a financial crisis, China’s real estate and retail industries were booming. The Sany Group happened to be at the right place at the right time to take advantage of this boom.

One of the interesting facts about Liang Wengen is that despite of him being a successful and extremely wealthy businessman, he publicly admits that his interests lie with the Chinese Communist Party. He once jokingly mentioned that he wanted to join the communist party to find a beautiful woman. Unfortunately, his ties as a businessman were the primary reason for his initial rejection.

Today, Liang Wengen is a force for the country’s private business sector. The Government owns many of the country’s industries, but Liang has recently urged the private sector to step up in developing the country’s economy.