https://www.scmp.com/rss/32200/feed The latest news on Zong Qinghou, founder, chairman and CEO of the Hangzhou Wahaha Group, including China business news. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cao Li Cao Li Kelly Zong Fuli, daughter of the late Chinese soft drinks billionaire Zong Qinghou, has stepped down as legal representative, chairwoman and general manager of Wahaha Group, a year after taking over. Zong was succeeded by Xu Simin, formerly the head of the legal department at an associated company, according to the latest corporate filings on the mainland. She retains her 29 per cent stake in the group. The 43-year-old took over the beverage empire – known as China’s Coca-Cola – after her father... https://www.scmp.com/business/article/3334391/kelly-zong-steps-down-wahaha-chief-amid-bitter-inheritance-feud?utm_source=rss_feed https://www.scmp.com/business/article/3334391/kelly-zong-steps-down-wahaha-chief-amid-bitter-inheritance-feud?utm_source=rss_feed Thu, 27 Nov 2025 12:30:39 +0000 Cao Li,Enoch Yiu,Daniel Ren Cao Li,Enoch Yiu,Daniel Ren In the last few weeks of his life, Chinese soft drinks billionaire Zong Qinghou scrambled to sign wills and set up trusts to ensure his wealth would be distributed among his family according to his wishes. But Zong had a “secret” family, and the trusts he set up before he died of lung cancer in February last year are now undergoing public scrutiny in a high-profile court case that has major implications for other wealthy individuals in China. It remains unclear why Zong, who built Wahaha into a... https://www.scmp.com/business/china-business/article/3324534/legal-battle-among-secret-family-wahaha-founder-exposes-chinas-wealth-succession-crisis?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324534/legal-battle-among-secret-family-wahaha-founder-exposes-chinas-wealth-succession-crisis?utm_source=rss_feed Sat, 06 Sep 2025 04:00:08 +0000 Aileen Chuang Aileen Chuang Goldman Sachs is pushing legacy planning in Asia, including succession and philanthropy, as family offices boom and family-owned businesses continue to dominate the region. The changing regulatory landscape, growth of family offices and high proportion of family-owned businesses in the region made it a “particularly important period” for wealthy families to engage in generational transition, manage legacies and navigate tensions, said Carra Cote-Ackah, head of legacy planning and philanthropic... https://www.scmp.com/business/banking-finance/article/3321187/goldman-sachs-champions-legacy-planning-us61-trillion-wealth-transfer-looms-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321187/goldman-sachs-champions-legacy-planning-us61-trillion-wealth-transfer-looms-asia?utm_source=rss_feed Sun, 10 Aug 2025 23:30:10 +0000 Audrey Jiajia Li Audrey Jiajia Li In early 2014, during China’s “two sessions”, I interviewed the late Zong Qinghou, the founder and chairman of Wahaha, in Beijing. He was 69 at the time, attending the National People’s Congress for the 12th time as a delegate. He appeared before my camera, travel-worn and wearing a pair of well-worn cloth shoes that cost just 20 yuan. During the interview, he was energetic and sharp-tongued, speaking frankly about the invisible barriers faced by private enterprises. He asserted that market... https://www.scmp.com/opinion/china-opinion/article/3319984/chinas-titans-industry-nationalism-double-edged-sword?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3319984/chinas-titans-industry-nationalism-double-edged-sword?utm_source=rss_feed Sun, 03 Aug 2025 21:30:08 +0000 Cao Li Cao Li A Hong Kong court has formally frozen an HSBC account at the heart of a high-stakes lawsuit that pits three claimants of a multibillion-dollar inheritance against the CEO of Hangzhou Wahaha Group, a beverage empire dubbed “China’s Coca-Cola”. The order will remain in force until another parallel lawsuit filed in a Hangzhou court is finished, or until a further order is passed by the Hong Kong court, according to a ruling by Deputy High Court Judge Gary CC Lam on Friday. The three plaintiffs –... https://www.scmp.com/business/china-business/article/3320465/hong-kong-court-freezes-us18-billion-hsbc-account-wahaha-inheritance-battle-unfolds?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3320465/hong-kong-court-freezes-us18-billion-hsbc-account-wahaha-inheritance-battle-unfolds?utm_source=rss_feed Fri, 01 Aug 2025 10:19:36 +0000 Enoch Yiu Enoch Yiu An increasing number of wealthy mainland families have been opting to come to Hong Kong for mediation services to solve disputes instead of going to court, according to an expert. “There is an increased demand for family mediation services in Hong Kong in recent years, particularly from [mainland] Chinese families,” said Ann Cooley, founder of Hong Kong-based Cooley Family Office, which has offered mediation services to help family offices handle their disputes for three decades. “Hong Kong is... https://www.scmp.com/business/banking-finance/article/3320068/why-do-mainland-chinas-wealthiest-families-pick-hong-kong-courts-mediate-their-feuds?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320068/why-do-mainland-chinas-wealthiest-families-pick-hong-kong-courts-mediate-their-feuds?utm_source=rss_feed Fri, 01 Aug 2025 00:30:08 +0000 Daniel Ren Daniel Ren Zong Qinghou, the late founder of China’s biggest soft drinks bottler Hangzhou Wahaha Group, became the talk of the nation after a wealth inheritance feud involving his offspring surfaced earlier this year, barely 12 months after his death. Three plaintiffs claiming to be his children sued chairwoman and CEO Kelly Zong Fuli in Hong Kong and Hangzhou in eastern Zhejiang province, demanding her to honour the late founder’s will, which promised them trusts valued at US$700 million each. Until the... https://www.scmp.com/business/china-business/article/3318812/explainer-why-family-feud-wahaha-no-laughing-matter-china-businesses?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3318812/explainer-why-family-feud-wahaha-no-laughing-matter-china-businesses?utm_source=rss_feed Fri, 18 Jul 2025 13:20:41 +0000 Daniel Ren Daniel Ren Kelly Zong Fuli, chairwoman and CEO of mainland China’s largest soft-drinks producer Hangzhou Wahaha Group, is embroiled in a wealth-inheritance dispute that has prompted questions about the sustainability of the country’s family businesses. The daughter of late founder Zong Qinghou is facing two lawsuits as three plaintiffs, claiming to be her half-brothers and half-sister, seek to prevent her from dealing with assets worth about US$2 billion. The feud surfaced just a year after the heiress won... https://www.scmp.com/business/china-business/article/3318545/wahaha-heiress-kelly-zongs-inheritance-battle-puts-chinese-family-firms-spotlight?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3318545/wahaha-heiress-kelly-zongs-inheritance-battle-puts-chinese-family-firms-spotlight?utm_source=rss_feed Thu, 17 Jul 2025 06:00:11 +0000 Yuke Xie Yuke Xie Zhong Shanshan, China’s richest man and the founder of bottled-water giant Nongfu Spring, has vowed to steer clear of price wars, after a year of aggressive price cuts and online personal attacks cost his company billions in market value. “[The] Blind pursuit of low prices, especially through internet-driven price wars, is destroying the quality of Chinese products and undermining China’s economy,” the billionaire said on Thursday at a company event. “Only the incompetent resort to price wars.... https://www.scmp.com/business/companies/article/3296050/nongfu-spring-founder-zhong-shanshan-pledges-end-price-war-after-year-online-attacks?utm_source=rss_feed https://www.scmp.com/business/companies/article/3296050/nongfu-spring-founder-zhong-shanshan-pledges-end-price-war-after-year-online-attacks?utm_source=rss_feed Fri, 24 Jan 2025 01:53:35 +0000 The heiress to one of China’s leading private firms is back at the helm, having inherited all the top positions held by her late father after a high-profile boardroom dispute, though a state-owned enterprise (SOE) still holds the controlling stake. Kelly Zong Fuli, daughter of Zong Qinghou, founder of beverage giant Hangzhou Wahaha Group, had resigned last month as vice-chair and general manager after some government officials and shareholders questioned her legitimacy in leading the company... https://www.scmp.com/business/china-business/article/3276709/wahaha-heiress-kelly-zong-fuli-back-steering-chinese-drinks-giant-after-shock-quit-move?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3276709/wahaha-heiress-kelly-zong-fuli-back-steering-chinese-drinks-giant-after-shock-quit-move?utm_source=rss_feed Sat, 31 Aug 2024 13:35:59 +0000 Last week’s resignation tendered by Kelly Zong Fuli, heiress of once China’s largest soft drink producer, turned out to be a non-event as the company announced that she would retain her role as general manager of Hangzhou Wahaha Group. Following “friendly negotiations” with shareholders, Zong decided to continue to perform her management responsibilities, Wahaha said in a statement on Monday evening. “We appreciate the recent attention from the public and media, and apologise for the issue that... https://www.scmp.com/business/china-business/article/3271507/china-wahaha-heiress-kelly-zong-fuli-back-helm-after-friendly-negotiations?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3271507/china-wahaha-heiress-kelly-zong-fuli-back-helm-after-friendly-negotiations?utm_source=rss_feed Tue, 23 Jul 2024 04:56:35 +0000 Zhang Shidong,Daniel Ren Zhang Shidong,Daniel Ren Kelly Zong Fuli has tendered her resignation as vice-chair and general manager of China’s Hangzhou Wahaha Group, according to an internal company letter, in a surprising move less than five months after her father’s death put her in charge of the drinks company he founded. In the letter seen by the Post, Zong said Hangzhou’s Shangcheng district government and some of Wahaha’s shareholders had questioned her legitimacy as the company’s leader, leaving her unable to perform her duties of managing... https://www.scmp.com/business/china-business/article/3270950/wahaha-heiress-kelly-zong-fuli-quits-chinese-drinks-giant-5-months-after-founders-death?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3270950/wahaha-heiress-kelly-zong-fuli-quits-chinese-drinks-giant-5-months-after-founders-death?utm_source=rss_feed Thu, 18 Jul 2024 10:00:19 +0000 Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. Last week, the news that Zong Qinghou, founder of Hangzhou-based beverage giant Wahaha Group, had passed away at the age of 79 was much discussed in mainland China. Zong founded Wahaha in the 1980s... https://www.scmp.com/comment/letters/article/3254332/why-death-chinese-billionaire-sparked-public-mourning?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3254332/why-death-chinese-billionaire-sparked-public-mourning?utm_source=rss_feed Thu, 07 Mar 2024 03:30:12 +0000 Tributes have poured in for Zong Qinghou, the billionaire founder of beverage giant Hangzhou Wahaha Group, who died on Sunday at 79. The tributes are well deserved, for Zong was a pioneer who illuminated a pathway to success for those who followed in his footsteps. In many ways, his tale of overcoming adversity to climb to the top of the business world reflected China’s own road to development, which at the time he grew up was far from certain. He was born into a poor family in Jiangsu province... https://www.scmp.com/comment/opinion/article/3253422/wahaha-chief-blazed-trail-entrepreneurs?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3253422/wahaha-chief-blazed-trail-entrepreneurs?utm_source=rss_feed Tue, 27 Feb 2024 22:15:09 +0000 Zong Qinghou, the founder of China’s drinks giant Hangzhou Wahaha Group that bought out its French partner Danone to dominate the local market, has died, according to a company statement. He was 79. The billionaire passed away at 10.30am local time on February 25, the company said in a statement on its official Weibo social-media account. A memorial service will be held on February 28 in Xiasha, Hangzhou, its home base in eastern Zhejiang province, it added. As the chairman of one of China’s... https://www.scmp.com/business/china-business/article/3253122/zong-qinghou-billionaire-founder-chinese-drinks-giant-wahaha-group-dies-79?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3253122/zong-qinghou-billionaire-founder-chinese-drinks-giant-wahaha-group-dies-79?utm_source=rss_feed Sun, 25 Feb 2024 05:33:46 +0000 Hangzhou police on Wednesday confirmed they have arrested a man on suspicion of assaulting and injuring one of China’s richest men, Zong Qinghou, in a knife attack last Friday, after media reports said Zong had suffered severe injuries to his left hand. The official Xinhua News Agency quoted police as saying the suspect, surnamed Yang, from Jiangsu province, was arrested on Friday at a rented home in Hangzhou’s Shangcheng District. Yang, 49, who is unemployed, earlier that day went to Zong’s... https://www.scmp.com/news/china-insider/article/1312187/man-held-after-chinas-second-richest-man-zong-qinghou-injured?utm_source=rss_feed https://www.scmp.com/news/china-insider/article/1312187/man-held-after-chinas-second-richest-man-zong-qinghou-injured?utm_source=rss_feed Wed, 18 Sep 2013 03:57:14 +0000 Beverage tycoon Zong Qinghou, the mainland's richest man, is now planning to build a retail empire. The chairman of Hangzhou Wahaha Group yesterday said the company plans to open at least 100 shopping centres across the mainland over the next three to five years. An initial public offering of the retailing business is also being weighed but there's no time frame as yet, he said. "We are very confident about tapping into the retail industry. We believe the revenue generated from the retailing... https://www.scmp.com/business/china-business/article/1284939/chinas-richest-man-and-beverage-tycoon-eyes-retail-riches?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1284939/chinas-richest-man-and-beverage-tycoon-eyes-retail-riches?utm_source=rss_feed Wed, 17 Jul 2013 16:00:00 +0000 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. "The queen invited [me] for February 6; the prime minister invited [me] for the 12th. Lunar New Year was on the 9th," the founder of China's third-largest beverage maker Wahaha told China Entrepreneur Magazine in an interview published on Sunday. "Should I have flown for more then 10 hours, eat and... https://www.scmp.com/comment/blogs/article/1231254/chinas-richest-man-snubs-queen-elizabeth-david-cameron?utm_source=rss_feed https://www.scmp.com/comment/blogs/article/1231254/chinas-richest-man-snubs-queen-elizabeth-david-cameron?utm_source=rss_feed Mon, 06 May 2013 01:46:22 +0000 A successful Chinese entrepreneur should understand but not participate in politics, said beverage tycoon Zong Qinghou, billed as China’s richest man. “Understanding politics gives you hints about where society is heading”, Zong advised fellow businessmen in an interview with China’s Sina News, “and it will save you from making mistakes when investing or running a business.” Yet Zong warned that it’s impossible for one to juggle business and politics, and succeed in both. “You can’t have your... https://www.scmp.com/news/china/article/1190447/stay-out-politics-billionaire-zong-qinghou-warns-chinese-entrepreneurs?utm_source=rss_feed https://www.scmp.com/news/china/article/1190447/stay-out-politics-billionaire-zong-qinghou-warns-chinese-entrepreneurs?utm_source=rss_feed Thu, 14 Mar 2013 03:11:03 +0000 Where have all the real men gone? That lament by the daughter of the mainland's richest man has caused an online frenzy, particularly among single people. Zong Fuli, 30, the only daughter and heiress of beverage tycoon Zong Qinghou, revealed her anxieties during an interview with the mainland edition of Marie Claire, saying she had never had a boyfriend. "I feel pessimistic about love. Quite often it is hard for girls like me to find a boyfriend. Everyone knows this," she said, adding that guys... https://www.scmp.com/news/china/article/1125079/heiress-zong-fuli-says-money-cant-buy-her-love?utm_source=rss_feed https://www.scmp.com/news/china/article/1125079/heiress-zong-fuli-says-money-cant-buy-her-love?utm_source=rss_feed Thu, 10 Jan 2013 16:00:00 +0000 What is it like to be the daughter of China’s wealthiest man? “Rich and boyfriendless,” according to Zong Fuli, the only daughter and heiress of beverage tycoon and billionaire Zong Qinghou. Zong Fuli, 30, said in a magazine interview she’s never had a boyfriend. “It’s not easy for her to tell whether men are genuinely interested or just in her wealth,” the report said. “It turns out all of them just want to do business.” Zong’s revelation has become a hot topic on China’s social media, where... https://www.scmp.com/news/china/article/1124650/billionaires-daughter-im-rich-and-boyfriendless?utm_source=rss_feed https://www.scmp.com/news/china/article/1124650/billionaires-daughter-im-rich-and-boyfriendless?utm_source=rss_feed Thu, 10 Jan 2013 06:16:36 +0000 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. By contrast, the total wealth of China's 400 richest people rose 8 per cent in US dollar terms or 4 per cent in local currency terms to US$459 billion last year, said Forbes. Topping this year's Forbes... https://www.scmp.com/business/economy/article/1059887/chinas-top-100-rich-list-fall-value?utm_source=rss_feed https://www.scmp.com/business/economy/article/1059887/chinas-top-100-rich-list-fall-value?utm_source=rss_feed Fri, 12 Oct 2012 16:00:00 +0000 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. Zong, who heads soft-drink producer Wahaha, has a fortune of US$10 billion, according to the magazine’s influential annual ranking of China’s 400 richest people, helping him win back the position he lost last year. A similar list released last month by the China-based Hurun Report also crowned Zong as China... https://www.scmp.com/news/china/article/1059513/beverage-tycoon-tops-forbes-china-rich-list?utm_source=rss_feed https://www.scmp.com/news/china/article/1059513/beverage-tycoon-tops-forbes-china-rich-list?utm_source=rss_feed Fri, 12 Oct 2012 06:39:41 +0000 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. The company was working with investment banks to identify food and beverage deals in Europe and Australia, said Kelly Zong, head of international business and daughter of billionaire owner Zong Qinghou, It was interested in companies that could help it source raw materials more... https://www.scmp.com/business/companies/article/1036199/wahaha-seeks-global-acquisitions?utm_source=rss_feed https://www.scmp.com/business/companies/article/1036199/wahaha-seeks-global-acquisitions?utm_source=rss_feed Thu, 13 Sep 2012 16:00:00 +0000 Zong Qinghou, head of China's third-largest beverage maker, is now the mainland's richest man. He disclosed that his stake in closely held Hangzhou Wahaha Group is more than double previous estimates, underscoring the opacity of wealth in the country. The 66-year-old soda pop and juice tycoon owns more than 80 per cent of Wahaha, the company's spokesman, Shan Qining, said in an interview. That stake elevates Zong's net worth to US$21.6 billion, according to the Bloomberg Billionaires Index. He... https://www.scmp.com/business/china-business/article/1031201/soft-drink-maker-emerges-mainlands-richest-man?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1031201/soft-drink-maker-emerges-mainlands-richest-man?utm_source=rss_feed Thu, 06 Sep 2012 16:00:00 +0000 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. The chairman and general manager of Hangzhou Wahaha Group had originally planned to open retailing outlets on the mainland last year, but failed to find a proper location. 'It's more difficult than I expected. But I'm... https://www.scmp.com/article/994553/water-tycoon-still-keen-expand-despite-setbacks?utm_source=rss_feed https://www.scmp.com/article/994553/water-tycoon-still-keen-expand-despite-setbacks?utm_source=rss_feed Sun, 04 Mar 2012 16:00:00 +0000 John Galliano The British fashion designer whose career imploded after a videotaped anti-Semitic rant was found guilty, but given a suspended fine of Euro6,000 (HK$64,600) by a French tribunal in connection with two separate bar clashes in Paris. The court did not give Galliano prison time. Presiding judge Anne-Marie Sauteraud said the magistrates' clemency was in part due to the designer's apologies to the court and the plaintiffs. The fashion industry is waiting to see whether Galliano will... https://www.scmp.com/article/978751/good-week?utm_source=rss_feed https://www.scmp.com/article/978751/good-week?utm_source=rss_feed Sat, 10 Sep 2011 16:00:00 +0000 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. But the soft-drink tycoon did not accept the invitation, saying he had to attend a business forum in Australia. His absence triggered media speculation that he was reluctant to respond to the American billionaires' call. 'I always... https://www.scmp.com/article/966623/drinks-boss-defends-his-stand-charity?utm_source=rss_feed https://www.scmp.com/article/966623/drinks-boss-defends-his-stand-charity?utm_source=rss_feed Sun, 01 May 2011 16:00:00 +0000 Warren Buffett's Midas touch has catapulted Wang Chuanfu to the top of China's rich list, as the BYD chairman's net worth has jumped more than fivefold over the past year, thanks to the US investment guru's HK$1.8 billion purchase of a stake in the car and battery maker. Wang, with a personal wealth of US$5.8 billion, has climbed 22 notches up the list released by Forbes magazine yesterday. His net worth last year was US$1.06 billion. The mainland's super-rich have seen their net worth soar... https://www.scmp.com/article/697532/buffett-magic-lifts-wang-top-china-rich-list?utm_source=rss_feed https://www.scmp.com/article/697532/buffett-magic-lifts-wang-top-china-rich-list?utm_source=rss_feed Thu, 05 Nov 2009 16:00:00 +0000 Signalling the end of a short-lived truce, Wahaha Group says negotiations to settle disputes with estranged joint-venture partner Groupe Danone have almost collapsed after a Swedish court ruled in favour of the Hangzhou-based beverage company. Wahaha founder and chairman Zong Qinghou said by phone yesterday that the ruling had boosted the company's confidence and it would resort to legal judgments to resolve trademark disputes. An arbitration tribunal in Stockholm last Friday rejected... https://www.scmp.com/article/645290/wahaha-danone-talks-hit-court-ruling?utm_source=rss_feed https://www.scmp.com/article/645290/wahaha-danone-talks-hit-court-ruling?utm_source=rss_feed Mon, 14 Jul 2008 16:00:00 +0000 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. Zong Qinghou, who is being probed by tax authorities over a tax bill of almost 300 million yuan (HK$334.4 million), admitted to the evasion, but insisted he paid more than 200 million of that in October before the investigation opened, the Daily Economic News reported. 'I... https://www.scmp.com/article/633934/beverage-king-blames-partner?utm_source=rss_feed https://www.scmp.com/article/633934/beverage-king-blames-partner?utm_source=rss_feed Tue, 15 Apr 2008 16:00:00 +0000 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. Zhejiang's Revenue Department has been auditing the accounts of Zong Qinghou, 63, ranked China's 63rd-richest man by Forbes last year, Caijing, a well-known business magazine, reports in its latest issue due on stands today. Authorities began an investigation last November after receiving a tip-off... https://www.scmp.com/article/633699/tycoon-suspected-failing-report-300m-yuan-income?utm_source=rss_feed https://www.scmp.com/article/633699/tycoon-suspected-failing-report-300m-yuan-income?utm_source=rss_feed Sun, 13 Apr 2008 16:00:00 +0000 Despite months of heated finger-pointing, estranged joint-venture partners Groupe Danone of France and Hangzhou-based Wahaha Group have cleverly left a back door open for an out-of-court settlement amid a barrage of public allegations that would suggest an inevitable all-out confrontation. Now, that leeway is being seized as both sides last week said they would return to peaceful talks and end all lawsuits and arbitration procedures, in an effort to meet the expectations of the mainland... https://www.scmp.com/article/620639/peace-pledge-brand-new-twist-wahaha-dispute?utm_source=rss_feed https://www.scmp.com/article/620639/peace-pledge-brand-new-twist-wahaha-dispute?utm_source=rss_feed Sun, 23 Dec 2007 16:00:00 +0000 French food giant Groupe Danone said it would seek to overturn a ruling that grants the well-known Wahaha brand to its estranged partner, claiming that the decision by the mainland arbitration office has disgraced Chinese laws. The dispute between Danone and its mainland partner Wahaha Group took a startling turn on Monday as the Hangzhou Arbitration Commission asked the French firm to scrap an agreement to transfer the Wahaha trademark to their venture, effectively handing the brand back to... https://www.scmp.com/article/619202/danone-appeal-wahaha-brand-ruling?utm_source=rss_feed https://www.scmp.com/article/619202/danone-appeal-wahaha-brand-ruling?utm_source=rss_feed Tue, 11 Dec 2007 16:00:00 +0000 French food giant Groupe Danone still hopes to patch up the rift with its joint-venture partner Wahaha Group despite an increasingly bitter and public dispute over alleged contract violations. The dispute emerged as Danone sued Wahaha for allegedly breaching their joint-venture agreement. In response, Wahaha chairman Zong Qinghou accused Danone of using the lawsuit as a ploy to take over the successful ventures. Danone has a 51 per cent stake in the joint ventures and Wahaha holds the... https://www.scmp.com/article/596597/danone-still-hopes-mend-ties-wahaha-despite-row?utm_source=rss_feed https://www.scmp.com/article/596597/danone-still-hopes-mend-ties-wahaha-despite-row?utm_source=rss_feed Tue, 12 Jun 2007 16:00:00 +0000 Continuing battle between beverage companies remains unresolved What began as an apparent win-win partnership between France's Groupe Danone and China's Hangzhou Wahaha Group in the 1990s is unravelling in spectacular fashion, showing that a clash of cultures, egos and business goals can undermine the good intentions of a mainland joint venture. The feud between the producer of France's signature Evian water and the mainland's largest beverage company shows that in a booming market, ... https://www.scmp.com/article/596357/danone-and-wahaha-vie-last-laugh?utm_source=rss_feed https://www.scmp.com/article/596357/danone-and-wahaha-vie-last-laugh?utm_source=rss_feed Sun, 10 Jun 2007 16:00:00 +0000 Rising tensions between Paris-based Groupe Danone and Hangzhou Wahaha Group over their troubled joint venture has spread to the factory floor, with Chinese workers rejecting the new French chairman of the partnership. Hangzhou's sales team yesterday launched a tirade against the new leadership of the venture, saying the mainland beverage business should remain under the control of Wahaha founder Zong Qinghou. 'Danone, we reject you,' one of a series of employee letters said. 'We seriously warn... https://www.scmp.com/article/596010/wahaha-danone-tensions-spread-factory-floor?utm_source=rss_feed https://www.scmp.com/article/596010/wahaha-danone-tensions-spread-factory-floor?utm_source=rss_feed Fri, 08 Jun 2007 16:00:00 +0000 The Chinese idiom says: 'Adding frost to snow.' For people struggling to buy businesses in the mainland, Washington's latest decision to reject a privatisation of Asia Satellite Telecommunications Holdings is the frost. The big 'No' will only serve to give fresh ammunition to supporters of stringent screening on acquisitions of domestic enterprises by foreigners in the name of 'national interest'. This comes at a time when Beijing has yet to give details to a new guideline that requires... https://www.scmp.com/article/590776/real-aim-protection-competing-interests?utm_source=rss_feed https://www.scmp.com/article/590776/real-aim-protection-competing-interests?utm_source=rss_feed Fri, 27 Apr 2007 16:00:00 +0000 SEB, the world's largest kitchen appliance maker, has received in principle approval from the Ministry of Commerce to take a controlling stake in Zhejiang Supor Cookware at a steep discount despite concerns that foreigners are buying mainland assets cheaply. The deal, which includes share sales in three batches worth more than two billion yuan, will give the French group up to 61 per cent of Hangzhou-based Supor, which it cannot sell for three years. It required the approval of the China... https://www.scmp.com/article/588709/seb-wins-nod-buy-controlling-stake-supor-cookware?utm_source=rss_feed https://www.scmp.com/article/588709/seb-wins-nod-buy-controlling-stake-supor-cookware?utm_source=rss_feed Thu, 12 Apr 2007 16:00:00 +0000 Authorities hoped a campaign launch last year would trigger a rush of investment in underdeveloped regions as part of the nation's goal to set up 250,000 supermarket chain outlets in villages and towns by 2008. The aim is to give people outside major centres access to a wider variety of consumer goods but while there is no word on initial results of the supermarket drive, researchers insist the best prospects for retailers remain in prosperous cities, and particularly in the east. Shanghai,... https://www.scmp.com/article/543287/cities-still-main-consumers-despite-drive-help-villages?utm_source=rss_feed https://www.scmp.com/article/543287/cities-still-main-consumers-despite-drive-help-villages?utm_source=rss_feed Sun, 02 Apr 2006 16:00:00 +0000 Reporters at the NPC got a surprise when they asked entrepreneurs from Zhejiang what Karl Max would think of them. 'He would be proud that China has prospered so well following his ideology,' said Lo Zhongfu, the chairman of the Guangxia Group. 'He would also see that some Zhejiang people have brighter ideas than he did.' Reporters could not help but laugh nervously at Mr Lo's audacity. Guangxia is the 100th largest enterprise in China and one of the mainland's largest private enterprises, with... https://www.scmp.com/article/448280/speaking-marx?utm_source=rss_feed https://www.scmp.com/article/448280/speaking-marx?utm_source=rss_feed Sun, 14 Mar 2004 16:00:00 +0000