Zhang Wenzhong
张文中
Born (1962-07-01) 1 July 1962
China
NationalityChinese
EducationChinese Academy of Sciences
Nankai University
Known forFounder of Wumart

Zhang Wenzhong (simplified Chinese: 张文中; traditional Chinese: 張文中; born July 1962) is a Chinese businessman and scholar, Stanford alumnus.[1] Zhang is the founder of Wumart, Chairman of Dmall Technology,[2] Rotating Chairman of the Internet of Things Committee of All-China Federation of Industry and Commerce,[3] Lifetime Trustee of Nankai University,[4] President of Nankai University's Alumni Entrepreneur Association,[5] Honorary President of China General Chamber of Commerce.[6] Zhang is also a visiting professor of Renmin University of China, Nankai University and University of Chinese Academy of Sciences.

Education

He obtained his bachelor's degree of Science in Mathematics and Master of Economics from Nankai University; he was Doctor of Systems Science from Chinese Academy of Sciences and completed his postdoc at Stanford University's School of Engineering.[7]

Business career

Founded Wumart, Digitalized Retail Chain

Dr. Zhang is a pioneer of digitalization in Chinese retail industry and founded one of the largest omnichannel digitalized retailers in China, Wumart Group. He started China's first modern supermarket chain under the brand of Wumart(Wumei in Chinese) in Beijing in 1994.[8] In 2003, Wumart became the first private retail business in China to be listed on the Hong Kong Stock Exchange (HKEX).[8][9]

As of May 2022, Wumart operates more than 2,000 multi-format stores nation-wide with total annualized revenue of over 110 billion RMB (eq. US$16.5 billion) .[10] Retail sales generated by mobile application users accounted for over 70% of Wumart's total retail sales in 2021.[11] Wumart has been praised for its outstanding role in combating SARS outbreak in 2003 and recent COVID-19 outbreak.[12]

Zhang is a successful consolidator of Chinese retail industry with extensive experience in post-M&A integration and synergies building. Notable deals include the acquisitions of B&Q China, Xinhua Department Store, Lotte Northern China, and several state-owned retail companies. In April 2020, Wumart successfully completed the deal of 2 billion euros to hold 80% stake in the Fortune 500 Germany-based METRO's China business.[13] Wumart and METRO joined forces to create a new retail model in China, develop Business-to-Business operations, and put more emphasis on expanding supply chains, brick-and-mortar outlets and digitalization to improve efficiency.[14]

Prior to founding Wumart, Zhang worked in the Development Research Center of the State Council of China in the late 80s and early 90s.

Founded Dmall, Omnichannel Digital Retail Solution Provider

Awards and Recognitions

China's 50 Most Influential Business Leaders 2020 and 2022 by Fortune Magazine[15][16]

China's Advanced Individuals in Private Sector in Addressing COVID-19 (2021)[17]

China's 25 Most Influential Business Leaders of the Year 2019,2020,2021[18][19][20]

China's Top 10 Figures in Private Enterprises of the Year 2020[21]

China Chain Store & Franchise Association's People of the Year 2019[22]

Outstanding Contribution to M&A in China of the Year 2019[23]

China's Top 10 Economic Person of the Year 2018[24]

Wrongful conviction in 2006, Overturned by the Supreme Court in 2018

In 2006, Zhang was arrested based on unjust accusations. In 2008, the Hengshui Intermediate People's Court of Hebei province sentenced him to 18 years in prison on charges of misappropriation, bribery and fraud, and changed the verdict to 12 years for the final ruling in 2009. A total of RMB 52.1 million in fines was also ordered, which was a violation of personal and enterprise property rights.

While in prison, he refused to succumb to injustice and spent most of his time reading and researching. During that time he patented four of his own inventions, receiving one top prize and two first class scientific and technological progress awards at a provincial and ministerial level. He was granted early release.

On December 28, 2017, the Supreme People's Court announced a retrial for Zhang's case, followed by the work reports of the Supreme People's Court and Supreme People's Procuratorate delivered at the plenary session of 13th National People's Congress (NPC) in March 2018, that ruled his case as a wrongful conviction that is to be corrected to fully implement the property rights protection.[25][26]

On May 31, 2018, his case was turned over by the Supreme Court of China. In its statement, the Supreme People's Court - after a final retrial - made the ruling that the original sentence was based on insufficient evidence and the laws applied were improper, quashing a guilty verdict for which he received an 18-year jail term ten years ago.[27][28]

Timeline of Zhang's case

  • Nov 12, 2006: Zhang Wenzhong investigated for graft by government authorities. Zhang later resigned from Wumei.
  • Dec 25, 2007: Prosecutors in Hengshui, Hebei province, formally charged Zhang with fraud, embezzlement and bribery.
  • Oct 9, 2008: The Hengshui Intermediate People's Court sentenced Zhang to 18 years in prison and impose a fine of 500,000 yuan ($78,038). Zhang appealed.
  • March 30, 2009: The Hebei High People's Court made a final ruling on the appeal. Zhang sentenced to 12 years in prison for the three crimes, still with a fine of 500,000 yuan.
  • Feb 6, 2013: Zhang was released from prison. Zhang twice received commutations.
  • December 2015: The court in Hebei rejected Zhang's appeal.
  • October 2016: Zhang appealed to the Supreme People's Court.
  • Dec 27, 2017: The Supreme People's Court agreed to retry Zhang's case.
  • Feb 12, 2018 The top court hears the case publicly.
  • May 31: Zhang's is cleared about 10 years after being pronounced guilty by the first court[29]

Address at the annual summit of China Entrepreneur Forum (CEF)

On February 28, he addressed the annual summit of China Entrepreneur Forum with the title Time Tries Devotion, Hearts Warm the World.His address won popular support nationwide. Part of the address was quoted in the media. "Although justice arrives late, shall it never be absent. Belated justice is still extremely precious." "I do not regret for maintaining my integrity, not compromising with my dignity and not breaching my own morality baseline. " "Love shines in the world, Justice cherished in hearts, Kinship and friendship deep as ocean.""Spring blooms in heart, Life enlightens with sunshine".[30]

References

  1. ↑ University, © Stanford; Stanford; California 94305. "Retail Digitalization and Unification of Online/Offline in China – US-Asia Technology Management Center". Retrieved 2022-07-26.{{cite web}}: CS1 maint: numeric names: authors list (link)
  2. ↑ "Dmall". www.dmall.com. Retrieved 2022-06-07.
  3. ↑ "全国工商联物联网委员会成员名单". www.acfic.org.cn. Retrieved 2022-06-07.
  4. ↑ "16位名家贤达受聘南开大学校董-百年校庆-南开大学". news.nankai.edu.cn. Retrieved 2022-06-07.
  5. ↑ "南开校友企业家联谊会成立". 100.nankai.edu.cn. Retrieved 2022-06-07.
  6. ↑ "中国商业联合会选举张文中为荣誉主席_联商网". www.linkshop.com. Retrieved 2022-06-07.
  7. ↑ Daniel Wenzhong Zhang, Ph.D. "Retail in China and the Online Opportunity - asia.stanford.edu". asia.stanford.edu. Retrieved 2018-06-12.
  8. 1 2 "Wumart takes high-tech road to development". chinadailyhk. Retrieved 2022-06-07.
  9. ↑ "Chinese Retail Giant Wumei Plans Three-in-One Mega Listing in Hong Kong". www.yicaiglobal.com. Retrieved 2022-06-07.
  10. ↑ "物美". www.wumart.com. Retrieved 2022-06-07.
  11. ↑ "ZHANG Wenzhong-Membership_English-中国企业家俱乐部". www.daonong.com. Retrieved 2022-06-07.
  12. ↑ "中国经验助力全球零售业闯关_滚动新闻_中国政府网". www.gov.cn. Retrieved 2022-06-07.
  13. ↑ 王俊伟. "Wumart, Dmall, Metro tie up to benefit all". www.chinadaily.com.cn. Retrieved 2022-06-07.
  14. ↑ "Metro China, Wumart to Blend Resources Further as Parent Wumei Prepares for Hong Kong IPO". www.yicaiglobal.com. Retrieved 2022-06-07.
  15. ↑ "2020年中国最具影响力的50位商界领袖". 财富中文网 (in Chinese (China)). Retrieved 2022-06-07.
  16. ↑ "张文中". 财富中文网 (in Chinese (China)). Retrieved 2022-06-07.
  17. ↑ "张文中荣获"全国抗击新冠疫情民营经济先进个人"称号_联商网". www.linkshop.com. Retrieved 2022-06-07.
  18. ↑ "物美张文中当选"中国最具影响力的25位企业领袖"_联商网". www.linkshop.com. Retrieved 2022-06-07.
  19. ↑ "2020年度中国最具影响力的25位企业领袖榜单公布". www.acfic.org.cn. Retrieved 2022-06-07.
  20. ↑ "百度安全验证". wappass.baidu.com. Retrieved 2022-06-07.
  21. ↑ "2020年度中国企业十大新闻、中国最具影响力十大企业、中国企业十大人物隆重揭晓". view.inews.qq.com. Retrieved 2022-06-07.
  22. ↑ "物美创始人张文中荣获CCFA2019中国连锁年度人物_联商网". www.linkshop.com. Retrieved 2022-06-07.
  23. ↑ "张文中：为什么物美会并购麦德龙 专家观点 全联并购公会-CMAA". www.ma-china.com. Retrieved 2022-06-07.
  24. ↑ 新浪财经 (2019-01-18). "2018十大经济年度人物揭晓：李保芳宋志平张文中上榜". finance.sina.com.cn. Retrieved 2022-06-07.
  25. ↑ 董志成. "Sign that entrepreneurs' rights are better protected". China Daily. Retrieved 2018-06-11.
  26. ↑ Reuters Editorial. "In rare reversal, China court overturns magnate's decade-old graft..." U.S. Retrieved 2018-06-11. {{cite news}}: |author= has generic name (help)
  27. ↑ "Chinese Retail Tycoon's Fraud Conviction Thrown Out". The New York Times. 2018-05-31. ISSN 0362-4331. Retrieved 2018-06-11.
  28. ↑ "Property rights better protected". www.chinadaily.com.cn. Retrieved 2018-06-11.
  29. ↑ 董志成. "Wumart tycoon's conviction thrown out - USA - Chinadaily.com.cn". africa.chinadaily.com.cn. Retrieved 2018-06-11.
  30. ↑ 李松. "PROPERTY RIGHTS BETTER PROTECTED". www.chinadaily.com.cn. Retrieved 2018-06-11.
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