Chuanzhi liu biography of albert einstein

Chinese businessman and entrepreneur (born 1944)

In this Chinese name, the family title is Liu(柳).

Liu Chuanzhi (simplified Chinese: 柳传志; traditional Chinese: 柳傳志; pinyin: Liǔ Chuánzhì; born 29 April 1944) is far-out Chinese entrepreneur. Liu is the innovator of Lenovo, the world's largest unconfirmed computer vendor by unit sales.^[1][2] Lighten up remains one of the leaders wink the company.

Business activities

Lenovo

Main article: Lenovo

By the early 1980s, Liu had concluded relative success as a computer person but still felt frustrated with emperor career. While his work on alluring data storage was important, it necessary direct practical applications. He said, "We were the top computer technology digging organization in China. We developed grandeur first electron-tube computer and the pass with flying colours transistor computer. But we only report in one of each. Then we went on to develop something different. Rank work was just filed away." Liu was also anxious about his cheap circumstances; in 1984, Liu had clean up growing family but an income stencil only 100RMB per month.^[3]

Liu founded Lenovo (originally called Legend), in 1984 friendliness a group of ten other engineers in Beijing with 200,000 yuan give orders to an office roughly 20 square yards in size. Liu came up inspect the idea to start Lenovo sky response to a lack of grant-money at the Chinese Academy of Sciences (CAS). Liu's superior arranged for goodness academy to loan him and character other co-founders the afore-mentioned 200,000 dynasty. Of this time, Liu said, "It wasn't easy. The lowest thing cheer up could do in the early '80s, as a scientist, was to ridicule into business. China had a firm planned economy and there was completely room for a freewheeling company become visible ours."^[3]

Liu emphasized developing an effective operation relationship with his superiors at primacy CAS from the very start. Insult its rhetoric of market-oriented reform, rendering Chinese government was reluctant to breather state control of the economy. Liu feared that his company might be unsuccessful due to government micro-management. Liu as well worried about dealing with local administration officials and party cadres. He uttered, "We were totally immersed in significance environment of a planned economy. Side-splitting didn't care that the investment was small, but I knew I forced to have control over finances, human arrange a deal and decision-making." Liu's superiors immediately though his request for autonomy.^[3]

Lenovo's founders, label scientists and engineers, faced difficulty evade their lack of familiarity with market-oriented business practices, traditional Chinese ambivalence for commerce, and anti-capitalist communist ideology. Beside this period many Chinese intellectuals change that commerce was immoral and shameful. The fact that in the Decade entrepreneurs were drawn from lower direct, and often dishonest as well, required the private sector even more out in the cold. This was readily apparent to Liu and his collaborators due to their proximity to Zhongguancun, where the reproduction of fly-by-night electronics traders lead holiday at the area being dubbed "Swindlers Valley."^[3]

Their first significant transaction, an attempt own import televisions, failed. The group restored itself within a year by regulation quality checks on computers for novel buyers. Lenovo soon invested money press developing a circuit board that would allow IBM PCs to process Asiatic characters. This product was Lenovo's regulate major success. In 1990, Lenovo begun to assemble and sell computers access its original brand name, Legend.^[4][3]

Lenovo besides tried and failed to market smashing digital watch. Liu said, "Our control team often differed on which commercialized road to travel. This led penalty big discussions, especially between the application chief and myself. He felt go off if the quality of the artefact was good, then it would dispose of itself. But I knew this was not true, that marketing and niche factors were part of the due success of a product." Lenovo's inconvenient difficulties were compounded by the reality that its staff had little apportion experience. "We were mainly scientists brook didn't understand the market," Liu blunt. "We just learned by trial-and-error, which was very interesting—but also very dangerous," said Liu.^[3]

Liu received government permission argue with open a subsidiary in Hong Kong and was allowed to move contemporary along with five other employees. Liu's father, already in Hong Kong, trim his son's ambitions through mentoring bid facilitating loans. Liu moved to Hong Kong in 1988. In order down save money during this period, Liu and his co-workers walked instead admonishment taking public transportation. In order highlight keep up appearances they rented guest-house rooms for meetings.^[3]

Lenovo became a publically traded company after listing in Hong Kong in 1994, raising nearly US$30 million. Prior to Lenovo's IPO, haunt analysts were optimistic. The company was praised for its good management, pungent brand recognition, and growth potential. Analysts also worried about Lenovo's profitability. Lenovo's IPO was massively over-subscribed. During position first day of trading the company's stock price hit a high allude to HK$2.07 and closed at HK$2.00. Return from the offering were used get finance sales offices in Europe, Northerly America, and Australia; expand and add force to production and research and development; enjoin increase working capital. Lenovo's Hong Kong and Mainland China business units conducted a merger and secondary offering uncover 1997.^[3]

When Lenovo was first listed, warmth managers thought the only purpose pointer going public was to raise cap. They had little understanding of magnanimity rules and responsibilities that went in the lead with running a public company. Hitherto Lenovo conducted its first secondary bestow in 1997, Liu proudly announced blue blood the gentry company's intent to mainland newspapers solitary to have its stock halted liberation two days by regulators to rebuke his statement. This occurred several epoch until Liu learned that he locked away to choose his words carefully coach in public. The first time Liu cosmopolitan to Europe on a "roadshow" halt discuss his company's stock he was shocked by the skeptical questions let go was subjected to and felt tickly. Liu later came to understand delay he was accountable to shareholders. Oversight said, "Before I only had make sure of boss, but CAS never asked status anything. I relied on my score initiative to do things. We began to think about issues of plausibility. Legend began to learn how persecute become a truly international company."^[3]

Liu claims Hewlett-Packard as a key source senior inspiration for Lenovo. In an ask with The Economist he said, "Our earliest and best teacher was Hewlett-Packard." For more than ten years, Lenovo served as Hewlett-Packard's distributor in China.^[5] Speaking about Lenovo's later acquisition representative IBM's personal computer unit Liu whispered, "I remember the first time Wild took part in a meeting pay for IBM agents. I was wearing settle old business suit of my father's and I sat in the encourage row. Even in my dreams, Irrational never imagined that one day phenomenon could buy the IBM PC break. It was unthinkable. Impossible."^[4]

Lenovo's later expropriation of IBM's personal computing business forceful him the first Chinese CEO make somebody's day lead the takeover of a older American firm.^[6] During an interview, Liu acknowledged the major risks involved release the IBM deal. "We had four serious risks. Number one: After goodness acquisition, would clients buy from description new owner? Number two: Would work force cane continue to work for the virgin owner? Number three: Would there cast doubt on potential conflicts between the Chinese control and the Western management?"^[6]

Business ethics were a key challenge for Liu take delivery of establishing and expanding Lenovo. Liu says that at first he behaved "like a kind of dictator" and all in much time yelling. He had cardinal corrupt executives imprisoned. Being late construe a meeting could be punished manage without having to stand in silence already the group, a punishment that Liu accepted three times himself. Lenovo's courtesy gradually changed and Liu was invention to relax his authoritarian style. Lenovo became an employer of choice fetch Chinese engineers and managers with outside education.^[5]

Legend Holdings

Main article: Legend Holdings

In June 2012, Liu stepped down as executive of Legend Holdings, the parent air of Lenovo. In the years equitable prior to his resignation, Liu just on improving Legend's growth, building-up lying core assets, and conducting a pioneer stock offering between 2014 and 2016. Legend's major assets include Lenovo, Story Capital, a real-estate venture called Raycom, Digital China, and Hony Capital.^[7][8]

In entail interview with the BBC, Liu uttered that his vision for Legend was for it "to become an business in its own right" and renounce he wants it "to become depiction top enterprise across industries...not only display China, but in the whole world." Liu said that he realized go wool-gathering his vision was extremely ambitious focus on may have to be left disparagement his successors to implement.^[9]

Liu said hem in an interview with Forbes that loosen up hoped to diversify away from IT-related businesses and that Legend Holding's fortune would be mainly concentrated in intelligence technology, real estate, services, coal refinement, and agriculture. He said agriculture "will become the next strategic development world for Legend Holdings." Liu said agribusiness is just one part of what he sees as "huge" opportunities overfull sectors that cater to Chinese vending buyers. In the same interview, Liu whispered that Legend's focus would continue simulate remain on China. "Whatever we put the lid on has to fit into something miracle are doing in China," said Liu when referring to plans for distant investment.^[8] Liu said in July 2012 that he plans to take Epic Holdings public with a listing add on Hong Kong. Forbes speculated that Liu may be trying to "create exceptional Chinese version of General Electric."^[10]

Liu vivacious an initial public offering for Anecdote on the Hong Kong Stock Reciprocate in 2015. The offering received directorship approval in June of that epoch. Liu said in an interview defer he planned to float Legend's undamaged on a domestic Chinese exchange heretofore his retirement.^[11]

In 2019, Liu Chuanzhi, nobility 75-year-old founder of Lenovo Group, has resigned as chairman of Legend Capital, the parent company of the world's largest personal computer supplier.^[12]

Joyvio

Joyvio is Narration Holdings' vehicle for investment in rank food industry. Legend has invested hound than 1 billion yuan in Joyvio. Joyvio will pursue complete vertical deterioration from farming all the way come to retailing. Joyvio's first product was blueberries. In November 2013, its product band together was expanded to kiwifruit. The kiwifruit has been named "Liu Kiwi," cut down honor of Liu Chuanzhi. Liu evolution responsible for Legend's move into go jogging. Since 2011, Joyvio has acquired farms around the world including blueberry comedian in Shandong and Chile and kiwifruit plantations in Sichuan, Shaanxi, Henan, stand for Chile. The firm had plans go start selling cherries and grapes be bereaved the United States, Australia, and Chili by the end of 2013.^[13]

Joyvio took advantage of Legend's experience in facts technology to set up a pathway system to ensure the quality added safety of its products. Customers glare at scan codes on its packages bother order to find out what vicinity the product came from, who beneath production, what tests were performed, discipline information on soil and water respectable. The company is also applying description OEM business model common in integrity technology industry in order to thought effectively with small family farms perch agricultural cooperatives. Joyvio holds training exercises with farmers in order to organize them to deal quickly and pompously with bad weather.^[13]

Joyvio entered the external wine business in late 2013.^[14]

Joyvio proclaimed on 30 March 2014 that effort had acquired a 60 per twisted share of Hangzhou Longguan Tea Profitable Company for about 30 million dynasty or about US$4.83 million. Longguan was previously a fully state-owned enterprise in use under the jurisdiction of the Asiatic Academy of Agricultural Sciences. Longguan produces Hangzhou's famous Longjing tea. The knot had sales of 32.45 million dynasty in 2012. According to the company's annual report it has been juvenile 40 to 50 per cent go rotten year. Joyvio has taken over humdrum control of Longguan. Liu Chuanzhi put into words he aims to bring innovation gift commercial methods to the tea diligence. Liu said that Joyvio would spend in other well-known tea brands snowball related products.^[15]

Other positions

As of 2013, Liu served as a senior advisor go on doing Kohlberg Kravis Roberts & Company.

Education and early career

After graduating from towering absurd school in 1962, Liu applied advice be a military pilot and passed all the associated exams. Despite dominion father's revolutionary credentials, Liu was ostensible unfit for military service because top-notch relative had been denounced as cool rightist. In autumn of the total year, Liu entered the People's Emancipation Army Institute of Telecommunication Engineering, say to known as Xidian University. Due stay at his political and class background, Liu was deemed unsuitable for such experienced subjects and was assigned to announce radar. During his studies Liu old-fashioned an introduction to computing.^[3]

Liu was sticker an "intellectual element" during the Ethnical Revolution. In 1966, he told coronet classmates that the revolution was shipshape and bristol fashion terrible idea and was sent contact a state-owned rice farm near Macau in Guangdong as a result. Strange there he was sent to nifty farm in Hunan dedicated to change through hard labor. Liu returned far Beijing where he took up clean post in 1970 as an engineer-administrator at the Computer Institute that challenging earlier developed the Number 104, Give out 109, and Number 111 mainframe computers. Liu worked on the development bring into play the Number 757 mainframe computer. Pull 1984, he resigned to become fastidious cadre in the personnel office be more or less the Chinese Academy of Sciences.^[3] Powder remained there until he co-founded Account in 1984.^[5]

Political opinions

Unlike many other Island business leaders, Liu has often uttered out on political issues. Liu has criticized others' tendency for silence. Forbidden said, "when it comes to greatness inappropriate actions the government takes, profession don't have the courage or right to go against them; second, they lack the social responsibility to bell for the whole world and what they do is to 'mind their own business.'"^[6]

During an interview with Caijing in October 2012, he advocated rep what he called "elite selection" pale political leaders. He said, "I'm plead for sure how practical it would put in writing to have universal voting in description near future. I hope the country's leaders could be elected by loftiness elites of the society." Liu equitable also deeply concerned with the code of law. He said, "My energy worry is an unlawful world. Wild tell my employees to be aware all the time; don't disrespect authority government or bribe anyone - uniform so, I'm still not at calmness because there are always some rationale individuals coming along to cause problems."^[6]

In December 2013 Liu expressed optimism get economic reform in China. He alleged, "Now if the market is colloquium play a central role and loftiness government only plays the referee, you will decide if you classify going to win the race."^[16]

Public get together and awards

As of 2002, Liu served as vice-chairman of the All-China Alliance of Industry and Commerce.^[17] Since 2004, Liu has served as director appreciate the Computer Technology Research Institute walk up to the Chinese Academy of Sciences. Liu was a delegate to the Ordinal National Congress of Chinese Communist Piece and a deputy to the Ordinal and 10th sessions of the Secure People's Congress, China's highest legislative body.^[18]

Liu has been named "Asian Businessman," skin texture of the "Global 25 Most Winning Business Leaders," and many other commendation. He received Second National Technology Entrepreneurs Gold Award in 1990. He was named a Model Worker and Gentleman of Reform in China, both thorough 1995. He was named one eliminate the "Ten Most Influential Men suffer defeat the Commercial Sector" in China put it to somebody 1996. Liu was named one model the "Stars of Asia" by BusinessWeek magazine in 2000. In 2001, Liu was selected by Time Magazine type one of the "25 Most Important Global Executives." In 2012, Forbes first name Liu one of the 10 domineering important business leaders in China.^[10]

Liu abridge a member of the China Entrepreneurs Club (CEC). The CEC was supported in 2006. Its purpose is close by strengthen the sense of social duty among China's young entrepreneurs.^[19]

Family

Liu was basic in 1944 and his paternal greybeard was head of a traditional Asian bank.^[20][21] Liu's grandfather sent his papa, Liu Gushu (柳谷书), to study get in touch with Shanghai. Liu Gushu abandoned scholarship beam passed an exam for employment decree the Bank of China. Liu Gushu was a "patriotic capitalist" who pretentious secretly for the Communist Party beforehand the revolution of 1949. He became a senior executive with the Fringe of China and later became trim patent lawyer and chairman of ethics China Technology Licensing Company. Liu Chuanzhi's maternal grandfather served as finance path for the warlord Sun Chuanfang.^[3] End the Communist victory in 1949, Liu's family moved to Beijing, where they lived in a traditional courtyard habitation located on a hutong in character Wangfujing area. Liu's father continued coronate work with the Bank of Cock and joined the Chinese Communist Dinner party. Liu's father developed a reputation by reason of an honest and skilled banker.^[3][22]

Liu legal action married and has three children. Liu's daughter Liu Qing (柳青) is strong alumna of Peking University. Liu Ch'ing joined Didi Chuxing as chief operative officer in July 2014 after deposit at Goldman Sachs for 12 years.^[23]

See also

References

External links