Career
Xu has been an outspoken research leader in China, where he has frequently called for labor reform and business regulation. As of 2015, his estimated Netto worth is United States dollar$1.9 billion, one of four family members to be listed among the world"s wealthiest. Company-investor Xu Mingbo was also recognized (United States dollar$11 billion).
The Xu family are prominent investors in diversified industries.
In addition to controlling stakes in Yangtze River Pharmaceutical Group and Beijing SL Pharmaceuticals, Jingren chairs YRPG"s 22 subsidiaries across Southeast Asia. Xu"s daughter, a biotechnological researcher and practicing physician in the United States, negotiated the sale of majority ownership in research subsidiary ShangPharma, and holds board partnerships in China Telecom as well as the pharmaceutical division of Fosun International Holdings.
Her son, Aaron, is currently an undergraduate student in the United States. He retains a minority stake in re-branded ShangPharma/ChemPartner, and in 2015 introduced the group"s new research centers in Shanghai and San Francisco alongside Chief Executive Officer Michael Hui.
Shang also acquired an undisclosed percentage of French resort operator Club Medical after funding a portion of the reportedly 80% premium that new owner Fosun International Holdings paid following a protracted bidding war.
The family were noted victims of the 2015 Chinese stock market crash, during which they lost approximately 40% of their previously estimated United States dollar$8 billion combined Netto worth. Despite this, Xu Jingren and his relatives continue to be mentioned as one of China"s top "vampire billionaire" families, with significantly concealed investments designed to keep a low profile in the face of intensive government business and financial regulation. Unofficial estimates have tabbed their wealth as high as United States dollar$13 billion.
