Prolife of Shi Zhengrong No. 7 of Chineese tycoons

May 9, 2007 1:49 am

Four years later, Shi’s confidence paid off when his Suntech Power Holdings went public on the New York Stock Exchange and investors snapped up shares, turning him into a billionaire. Last year, Shi ranked No.7 on the Forbes magazine list of China’s richest tycoons, with a $1.4 billion fortune.

Today, he has traded his research smock for blue business suits, a chief executive’s 63rd-floor corner office and a role advising the Chinese government on renewable energy policy.
“We believed the share price would go up, but not so quickly,” said Shi, a 43-year-old with a boyish face, chuckling at what he says was a rise marked by lucky breaks and timing. “I never thought I would be a rich guy.”

Shi is the leader of an emerging group of Chinese entrepreneurs who are striking it rich by meeting fast-growing demand in China and abroad for cleaner power.As of last year, Suntech had risen to be the world’s fourth-largest maker of solar cells, according to an annual ranking by Photon International, an industry magazine. Sharp Corp. of Japan is the market leader and other competitors include Q-Cells of Germany, Kyocera of Japan and BP Solar.

http://www.iht.com/articles/2007/04/23/business/23suntech-asia.php

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