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Mainland China's richest man retains the discipline of a student

www.chinanews.cn 2005-03-08 13:23:36

Chinanews, Mar. 7 - Had he not been working in the fashionable
interactive entertainment industry, had he not successfully handled one
capitalist transaction after another, Chen Tianqiao, the richest man in
mainland China, would undoubtedly be considered "old-fashioned:" working
hard everyday, never going out for entertainment, never enjoying reading,
and dressing in an out-dated style.
Currently the Chairman of the Board of Directors and the Chief Executive
Officer of Shanda (Nasdaq: SNDA), Chentian Qiao served as head of the
organization department of the Committee of the Communist Youth League at
Fudan University more than 10 years ago. Up to now, Chen Tianqiao has
retained the characteristics of a good student cum party member:
hardworking, conscientious, leading a thrifty and simple life, a model
for his colleagues. These characteristics are also the "magic weapon"
that he used to establish his online entertainment kingdom, Shanda.
On Feb. 8th, Sina published its annual financial report; due to
under-performance, its stock plunged in value. Shanda grabbed the
opportunity and purchased over 7 million Sina shares in just two days.
Shanda completed the purchase when the price of Sina stock was at its
lowest and became their largest shareholder of Sina for the price of only
230 million USD. This purchase is considered a classic move within the
industry.
On an ordinary day, Chen Tianqiao gets up around 8 o'clock and begins
work at 9 a.m. He has lunch and dinner at the office cafeteria and does
not finish work until 11 p.m. This has been his life for the past 5
years, and during this period he has never gone out for entertainment,
not to mention such luxuries as cruises, sports cars or clubs.
In his mind, to "retain the simplicity and passion of a student" is an
essential management strategy. "If I get off work at 5 every day and
receive special treatment in my life, how can my colleagues work hard?"

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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