China's richest man 'snubs Queen Elizabeth, David Cameron'

Zong Qinghou talks with journalists after a press conference in Hangzhou in 2007. Photo: AP

China's richest man, Zong Qinghou, may be known for his frugality, but he bailed on two free dinners in February, snubbing invitations from Britain's Queen Elizabeth and Prime Minister David Cameron.

Thursday, 29 August, 2013, 4:13am

Wahaha looks overseas to fill demand for milk powder supplies

Zong Qinghou says enterprises should help reduce the wealth gap.

Hangzhou Wahaha, the mainland's leading beverage producer, is seeking to invest in dairy farms and milk powder factories overseas to secure raw material supply, amid continuing concern over food safety.

"Our biggest problem is milk powder," said Wahaha's chairman, Zong Qinghou, revealing that the company needed a huge amount of milk powder - 150,000 tonnes - every year.

9 Mar 2013 - 6:30am

China's top 100 rich-list fall in value

Wahaha chairman Zong Qinghou topped the Forbes China rich list with an estimated wealth of US$10 billion. Photo: Bloomberg

The global economic slowdown has reduced the collective wealth of the mainland's 100 richest people by 7 per cent to US$220 billion this year, Forbes has revealed.

"It's relatively rare for total wealth held by the members of our list to decline," said Russell Flannery, Forbes senior editor.

13 Oct 2012 - 4:57am

Beverage tycoon tops Forbes' China rich list

Wahaha chairman Zong Qinghou, China's richest man. Photo: Simon Song

Beverage tycoon Zong Qinghou regained his position as China’s richest man this year, Forbes magazine said on Friday, but the global economic slump took its toll on other billionaires.

12 Oct 2012 - 2:46pm 1 comment

Wahaha seeks global deals to fight competition and economic slowdown

Wahaha reported a profit of US$1 billion last year.

Hangzhou Wahaha Group, the beverage business owned by the mainland's richest man, is hunting for global acquisitions to build an overseas distribution network as economic growth slows and competition heats up at home.

14 Sep 2012 - 3:45am

Wahaha seeks global acquisitions

Hangzhou Wahaha Group, the beverage business owned by the mainland's richest man, is hunting for global acquisitions to build an overseas distribution network as economic growth slows and competition heats up at home.

14 Sep 2012 - 9:25am

Technology fuels growth

The Hangzhou Economic and Technological Development Area (HEDA) has fuelled the city's economic growth for two decades.

Last year, 1,137 enterprises were set up, bringing in additional capital of 2.095 billion yuan (HK$2.556 billion), up 12.9 per cent from 2010.

18 Jul 2012 - 12:00am

Water tycoon still keen to expand, despite setbacks

Zong Qinghou, one of the richest men in China, has suffered setbacks with his plan to turn his bottled-water business into a conglomerate spanning retailing, drinks, and children's clothing, but the billionaire said he would make breakthroughs in the retailing industry this year.

5 Mar 2012 - 12:00am

Piracy judgments sound, but enforcement an issue

Although China has relatively sound legislation on intellectual property rights, as required by the World Trade Organisation, enforcing them to combat piracy was a different matter, said Si Weijiang, one of the mainland's top IPR lawyers.

14 Jul 2011 - 12:00am

Drinks boss defends his stand on charity

When Bill Gates and Warren Buffett visited Beijing in October last year to encourage the mainland's wealthiest citizens to donate their fortunes to charity, Zong Qinghou, chairman of Wahaha Group and one of the richest men in China, was on top of the invitation list.

2 May 2011 - 12:00am

Wahaha cries foul over KPMG newspaper advert

A spin-off from the protracted dispute between French food giant Groupe Danone and its estranged partner, Hangzhou Wahaha Group, sees the mainland firm involved in a heated legal battle with auditing firm KPMG.

2 Jul 2009 - 12:00am

Court dismisses Danone appeal against arbitration ruling

A mainland court rejected an appeal by French food giant Groupe Danone against an arbitration ruling that favoured its estranged partner Hangzhou Wahaha Group.

Wahaha said the Hangzhou intermediate court ruling was an important victory in the high-profile battle against Paris-based Danone over who has rights to the Wahaha brand on the mainland.

6 Aug 2008 - 12:00am

Beverage king blames partner

The chairman and founder of Wahaha - the mainland's largest drinks maker - has accused the company's estranged French joint venture partner, Group Danone, of tipping off mainland tax officials in his massive tax-evasion case.

16 Apr 2008 - 12:00am

Tycoon suspected of failing to report 300m yuan income

The founder and chairman of the mainland's largest drinks maker, Wahaha Group, is suspected of failing to report nearly 300 million yuan (HK$333.5 million) in personal income, mainland media say.

14 Apr 2008 - 12:00am

In Brief

Danone COO steps down from Wahaha Joint Ventures

16 Jan 2008 - 12:00am