China's richest man is the chairman and majority shareholder of Hangzhou Wahaha Group, a consumer goods company–beverages, food, baby formula–he founded with two retired primary school teachers and a $22,048 loan in 1987. Wahaha, which means "laughing child" in Mandarin, is the third-largest soft drink maker in China, trailing Coca-Cola and Tingyi.
Faced with curbs on luxury residences and fundraising at home, China’s biggest mainland-listed property developer is building apartments for wealthy Chinese in Singapore and raising debt in the city’s currency.
Coca-Cola Co., the world’s largest beverage company, plans to invest more than $4 billion in China from 2015 to 2017 as it builds factories and adds new products to meet demand and counter rising competition.
Hangzhou Wahaha Group Co., the beverage maker owned by China’s richest man, signed a sponsorship deal with 19-time English soccer champion Manchester United Plc to draw sports fans to its energy drink.