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ChemChina GM gets Chinese businessman of the year for 2008 honor
Source:China National Tire&Rubber Corporation Date: 2009-02-26

Ren Jianxin, the China National Chemical Corp GM, made the Chinese businessman of the year list for 2008, of Fortune (China) magazine’s first issue for 2009. The magazine also ran a story about Ren on its website (China) Fortune (China) is popular among company executive and government administrators. Gao Desi, its editor-in-chief, said that Ren was chosen because he recreated a state-owned enterprise, making it new and competitive in a world dominated by European and American chemical giants.

“Businessmen of the year” is a traditional Fortune contribution for honoring prominent business people from Asia and Europe, Gao explained, citing three criteria for choosing the person: first, the candidate’s enterprise must be an industry leader with a large increase in revenues over the previous year; second, the person has made a major effort to lay a solid foundation for enterprise development; and, third, the company’s products and services must be accepted around the world. “Based from these criteria,” Gao concluded, “Ren is qualified.”

Ren has been head of the company for 25 years now, from a beginner who broke the ice by introducing overseas investment to China’s State-owned enterprises. He sold a 20-percent stake in China National Bluestar (Group) Co to Blackstone, a private US equity investment company, for 600 million yuan, in October of 2008. With that sale, Ren intends to push for greater breakthroughs in the administrative structure and to provide more financial support for Bluestar’s growth. This means that the China National Chemical Corp has become one of China’s most successful chemical enterprises and could show a profit of 5 billion yuan, by 2010, thereby edging itself into the Fortune 500.

So far, Fortune (China) has had a “Chinese businessmen of the year” for seven consecutive year. The winners include such influential Chinese entrepreneurs as Ma Yun, Zhang Ruimin, Wang Xianzhang, Li Shufu, Chen Doingsheng, and Yang Yuanqing.
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