Early Life
Chan Laiwa, born Chen Lihua in 1941 in Beijing's Summer Palace, is a descendant of a noble Manchu family. However, the collapse of the Qing dynasty left her family impoverished, forcing her to leave high school early. She began her entrepreneurial journey with a furniture repair business.
Rise to Success
In the early 1980s, Chan moved to Hong Kong, where she built a successful furniture trading business, accumulating enough wealth to purchase several villas. She returned to Beijing in the late 1980s and founded Fu Wah International Group in the early 1990s. Fu Wah became one of Beijing's largest commercial property developers, with a diverse portfolio including luxury hotels, apartments, and office buildings.
Key Business Strategies
Chan's key business strategy involved identifying and capitalizing on opportunities in the booming Chinese real estate market. She focused on high-end properties and developed iconic projects such as Jinbao Street in Beijing. She has also expanded her business outside of China, investing in hotels in Australia and New Zealand. Chan has gradually handed over the daily management of her business to her son, allowing her to focus on her cultural interests.
Philanthropy
Chan is known for her philanthropic efforts. In 1999, she founded the China Red Sandalwood Museum, investing significantly in the project. The museum showcases her love for red sandalwood, a passion stemming from her childhood. She has donated sandalwood artworks to museums worldwide and contributed to disaster relief efforts, demonstrating her commitment to preserving Chinese culture and supporting those in need. In 2004, she donated 265 million yuan and 130 million yuan the following year for disaster relief.