Hengdian Group founder Xu Wenrong was born in 1935 in Dongyang City in China’s Zhejiang Province. As part of the country’s first generation of entrepreneurs after its economic reform and opening up, Xu has sought new opportunities and broken new ground throughout his career. Now, in his 80s, Xu remains active in his business in Hengdian.
Xu started his career by setting up a silk factory in 1975, followed by several magnet factories in 1980. In 1989, the Dongyang Organic Synthetic Chemical Manufacturing Plant 1 was born. In 1996, Xu established Hengdian World Studios and built its first movie set, Guangzhou Street, laying the foundation for Hengdian Group’s film and culture sector. Later he invested in and helped build local infrastructure and public service facilities including roads, schools, and hospitals in the city. In 2017, aged 83, Xu brought the New Yuan Ming Palace to Hengdian.
Xu founded the model of “Hengdian Community Economy” and established the goal of “common creation, common ownership, common wealth and common share,” which became the backbone of the company’s development.
Xu was elected as a representative to the National People’s Congress eight times. He has been recognised as a National Model Worker, an All-China Outstanding Township and Village Entrepreneur, a Chinese Grand Master of Management, as well as a Chinese Grand Master of Technology Economics.