Zhang Yin - China's Leading Woman Entrepreneur
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Case Details:
Case Code : LDEN051
Case Length : 14 Pages
Period : 1998-2007
Pub Date : 2007
Teaching Note :Not Available Organization : Nine Dragons Paper Holdings Limited
Industry : Packaging
Countries : China
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Introduction Contd...
The company's share price quadrupled from the IPO price of HK$ 3.40 to HK$ 14 by
November 2006, and Zhang became one of the richest women in China by the virtue
of her 72% equity holding in the company. (Refer to Exhibit II for the Stock
Price Chart of Nine Dragons).
On Zhang topping the list of the richest people in China, The Observer10 wrote,
"She seems an eloquent symbol of the new China; a capitalist whose success and
wealth was unthinkable before Deng Xiaoping freed China from the embrace of
Maoism in 1978. It is capitalists such as her who are proof that paradoxically
it is communist China that is home to the globe's most vigorous capitalism. And
she is a woman."11
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The Beginning
Zhang was born in Heilongjiang province in the north east of China, bordering
Russia, in 1957. Zhang's father, Zhang Deen was a Lieutenant in the Red Army
and she was the eldest of eight children.
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Though her father was in the army, the family faced some troubled times. Her
father was imprisoned during the Cultural Revolution12.
Zhang and her mother worked in a textile factory to support the family. As
Zhang said, "In those days, we only had meat to eat on holidays. But the
lack of material things made me appreciate the value of possessions. My
parents always encouraged us to face life and solve our problems
independently."13 After leaving the
army, Zhang Deen joined a metallurgy firm in Guangdong province. Zhang moved
to Shenzhen in the early 1980s, when economic reforms had just begun in
China. She started working in a foreign paper products trading company, in
its finance department. |
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