Sun Guangxin is a serial entrepreneur. In May 1989 he invested 3,000 yuan from his decommissioning pay and 400,000 yuan bank loans to establish Guanghui Industry and Trade Co. Ltd, the predecessor of Xinjiang Guanghui Enterprise Group. He established the 1st sea-food restaurant in Urumchi. In 1992 alone his company realized imports valued at $87 million which accounted for 1/6 of the total import and export business values of Xinjiang that year.
Background
Sun Guangxin was born in 1962, Xinjiang but identifies Pingdu, Shandong Province as his ancestral home. Sun was born into a large Han family in Urumuqi, capital and largest city of Xinjiang, Northwest China. His family originally migrated from their ancestral home in Shandong Province on the east coast. Sun is the youngest of five children, and his father worked as a cobbler.
Education
He received a Master of Arts from the Chinese Academy of Social Sciences, and an EMBA from Tianjin University.
Career
Joining the army at the age of 18 allowed Sun to receive a college education, eventually earning him a postgraduate degree from the Anhui Military College. He served nine years in the People’s Liberation Army and participated in the China-Vietnam border war. At the age of 27, after he was denied a promotion to army commander, he resigned and began to work as a sales agent for a company specializing in bulldozing equipment in Xinjiang.
Sun Guangxin showed his entrepreneurial skills early in life. At the age of twenty-six, he set up a seafood restaurant in Urumqi, the capital city of the Xinjiang province, by borrowing capital of $50,000 from a Japanese cotton trader. The restaurant did very well and soon, Sun Guangxin returned the loan with interest to the trader.
Sun Guangxin was also responsible for developing Urumqi. He built several modern forms of entertainment, such as the city’s first dance hall, bowling alley, karaoke bar, and swimming pool. Today, Urumqi is a bustling industrial center. Its residents would find it very hard to believe that their city was so insignificant at that time with respect to entertainment.
In 1989, Sun Guangxin started a company by the name of Guanghui Industry and Trade Co. Ltd. This modest company grew rapidly and it became the Xinjiang Guanghui Industry Group. Over the years, the group has multiplied its activities.
In 1990, Xinjiang, a region rich in oil reserves, did not have enough capital to engage in the costly extraction of oil. That was when Guangxin stepped in and imported two expensive oil pumps for an extraction project. It was a bold move for those turbulent economic times, but Guangxin took the risk and it paid off. He built an expensive office and that was when his company ventured into the real estate sector. They also took up granite business as well. Today, the group is one of the most diverse and successful in China. Sun Guangxin is the Chief Executive Officer of the company.
Over time, the Xinjiang Guanghui Limited Company has evolved into what is known today as the Guanghui Enterprise Group, of which Sun is CEO and chairman of the board of directors. The group is comprised of three main levels: the Guanghui Industry Investment (Group) Co., acting as the center of investment and decision-making; the All Industrial Groups Level, which coordinates business, share-holding, and market development; and the Subsidiary Companies Level, which ensures that goals are met, as well as maintaining contacts with production and business entities.
Views
Quotations:
Always Going Forward - Sun Guangxin life moto
Connections
He is married with three children and lives in Urumqi, China.