Early Life
Chen Fashu was born in 1961 in a rural area of Fujian province, China. His childhood was marked by poverty, forcing him to leave school early. Despite these hardships, Chen developed a strong work ethic and an early understanding of business principles.
Rise to Success
Chen's career began with timber trading at the age of 21. In 1983, he transitioned into the retail sector, establishing New Huada Departmental Stores in 1995. This venture expanded into the New Huada Group, which diversified into various sectors like investment management, retail, and construction. In 2003, Chen partnered with foreign investors to purchase Youhai Plaza, transforming it into Huacheng International Commercial Apartment. A pivotal moment in his career came with his investment in the Fujian-based Zijin Mining Industry, where he became the largest shareholder.
Key Business Strategies
Chen's success stems from strategic investments and a keen understanding of market dynamics. He made significant investments in key sectors, including the pharmaceutical company Yunnan Baiyao and Longi Green Energy. He is also known for his acumen in investment management and consulting services. In 2009, he acquired a 7% stake in Tsingtao Brewery for $235 million, demonstrating his ability to identify and capitalize on profitable opportunities.
Philanthropy
Driven by a desire to give back, Chen established the New Huada Charitable Foundation in 2009.