He Xiangjian

He Xiangjian 何享健
Born	5 10, 1942
Birthplace	Shunde, Foshan, Guangdong, China
Nationality	Chinese
Occupation	Businessman, industrialist
Known for	Co-founder of Midea Group
Spouse(s)	Married
Children	3

He Xiangjian (Template:Lang; born October 5, 1942) is a Chinese industrialist and the co-founder of Midea Group, one of the world's largest home appliance manufacturers. Born in Shunde, Foshan, in Guangdong province, He rose from modest origins to build a global manufacturing enterprise that produces everything from air conditioners and refrigerators to robotics and building automation systems. In 1968, during the tumultuous years of China's Cultural Revolution, He organized a group of 23 residents from his hometown to establish a small production workshop — the enterprise that would eventually become Midea Group. Over the following decades, He guided Midea through China's economic reforms and its integration into the global economy, transforming the company from a local bottle-cap producer into a multinational corporation listed on multiple stock exchanges. Although He stepped back from the day-to-day management of Midea in 2012, he and his family remain closely associated with the company and its broader business interests. He Xiangjian is consistently ranked among the wealthiest individuals in China and in the world; in September 2021, the Bloomberg Billionaires Index estimated his net worth at approximately $28.8 billion, placing him at the 51st position globally. He made international headlines in June 2020 when a kidnapping attempt was made against him at his home in Foshan, an incident that was thwarted and led to the arrest of five suspects.

Early Life

He Xiangjian was born on October 5, 1942, in Shunde, a district of Foshan in Guangdong province, in southeastern China. Shunde, situated in the heart of the Pearl River Delta, would later become one of the most economically dynamic regions in China, but at the time of He's birth, it was a predominantly agricultural area. Details about He's parents, family background, and childhood remain limited in publicly available sources, as He has been described as a publicity-shy individual who has long preferred to keep a low profile.

He came of age during a period of profound upheaval in China. The country's transition from the civil war era into the early decades of the People's Republic of China meant that economic opportunities were limited, and private enterprise was virtually nonexistent under the centrally planned economy. Despite these constraints, He demonstrated entrepreneurial instincts at a relatively young age. By the late 1960s, as the Cultural Revolution was reshaping Chinese society, He took the initiative to organize a collective enterprise in his hometown — an undertaking that would define the trajectory of his life and career.

Growing up in Guangdong province, a region with deep commercial traditions and proximity to Hong Kong and international trade routes, likely shaped He's business sensibility. The Cantonese entrepreneurial culture of the Pearl River Delta, which would later fuel China's export-driven manufacturing boom, provided a cultural backdrop for He's eventual ventures. However, in the 1960s, private business activity was severely restricted, and He's early enterprise was structured as a collective workshop in keeping with the economic norms of the era.

Career

Founding of Midea

In 1968, He Xiangjian led a group of 23 residents from his hometown in Shunde to establish a small production workshop. The enterprise initially produced bottle caps and other basic products, operating as a neighborhood collective rather than a private company, consistent with the economic structures permitted during the Cultural Revolution period. The workshop represented one of the many grassroots manufacturing ventures that would later emerge as significant industrial enterprises as China's economy opened up.

The original enterprise operated under difficult conditions. Capital was scarce, technology was rudimentary, and the regulatory environment was hostile to anything resembling private enterprise. Nevertheless, He and his co-founders persisted, gradually expanding their operations and product lines. The workshop's early years laid the groundwork for what would become one of China's most important manufacturing companies.

Growth During China's Reform Era

The late 1970s and 1980s marked a turning point for He Xiangjian's enterprise. Following the death of Mao Zedong in 1976 and the subsequent economic reforms initiated by Deng Xiaoping, China began to open its economy to market forces and private enterprise. The Pearl River Delta, where He's company was based, became one of the first regions to benefit from these reforms, with Special Economic Zones and export-oriented manufacturing driving rapid growth.

He seized on the new opportunities presented by reform and opening, pivoting his enterprise toward the production of home appliances — a sector that was poised for enormous growth as Chinese living standards began to rise. The company began manufacturing electric fans and, later, air conditioners, tapping into burgeoning domestic demand as hundreds of millions of Chinese consumers gained access to modern household goods for the first time.

The enterprise was eventually renamed Midea (美的), a name that would become synonymous with Chinese home appliances. Under He's leadership, Midea expanded its product portfolio to include a wide range of white goods and small appliances, including air conditioners, refrigerators, washing machines, rice cookers, and other kitchen appliances. The company's growth mirrored China's broader economic transformation, as the country evolved from an agrarian economy into the world's largest manufacturing hub.

Transformation into a Global Corporation

He Xiangjian built Midea Group into one of the world's largest appliance makers, a transformation that required not only expanding production capacity but also investing in technology, building brand recognition, and establishing international distribution networks. The company listed on the Shenzhen Stock Exchange, gaining access to capital markets that fueled further expansion.

Midea's internationalization strategy included both organic growth — establishing overseas sales offices and manufacturing facilities — and strategic acquisitions. The company made significant investments to acquire foreign brands and technology, positioning itself as a competitor to established global appliance manufacturers from Japan, South Korea, Europe, and the United States.

One of Midea's most notable international moves was its acquisition of a majority stake in KUKA, a German robotics and automation company, in 2016. This acquisition signaled Midea's ambition to move beyond traditional home appliances into the higher-value fields of industrial automation and robotics, aligning with China's national strategy of upgrading its manufacturing sector.

Under He's strategic direction, Midea also expanded into building technologies, HVAC (heating, ventilation, and air conditioning) systems, and logistics solutions. The company's diversification reflected a broader vision of becoming an integrated technology conglomerate rather than remaining solely a home appliance manufacturer.

Management Transition and Continued Influence

He Xiangjian stepped down from the chairmanship of Midea Group in 2012, handing operational leadership to professional managers in a transition that was notable in the Chinese business context, where founder-led companies often struggle with succession planning. He's decision to professionalize management and step back from daily operations was seen as a relatively unusual move among Chinese entrepreneurs of his generation.

Despite his formal retirement from executive roles, He and his family have maintained significant influence over Midea Group through their shareholdings. The He family remains the company's largest shareholder group, and He's son, He Jianfeng (also known as Jason He), has been involved in various business and philanthropic activities associated with the family's interests.

Midea continued to perform strongly in subsequent years. In the first half of 2025, Midea Group achieved its best-ever performance for a half-year period, driven by its push into premium products and continued international expansion. The company also elevated a 48-year-old vice president to the position of executive president, signaling a new generation of leadership.

Broader Business Interests

Beyond Midea Group, He Xiangjian has diversified his business interests into other sectors. A hotel management company controlled by He has engaged in investment activities outside the appliance sector. In September 2025, this firm acquired a stake in the Chinese arm of a South Korean property insurance company, illustrating the breadth of He's investment portfolio and his continued activity in the business world even after stepping back from Midea's operations.

These investments suggest that He has pursued a strategy of diversification common among China's wealthiest industrialists, spreading capital across real estate, hospitality, financial services, and other sectors beyond the core manufacturing business that generated his initial fortune.

Personal Life

He Xiangjian is married and has three children. He has been described as a private individual who avoids the public spotlight, a trait that stands in contrast to the high profiles maintained by some of China's other leading business figures. Despite his immense wealth, He has generally eschewed media attention and public appearances, maintaining a low-key lifestyle.

He resides in Foshan, Guangdong province, near the headquarters of the company he founded. His son, He Jianfeng, has become known in his own right, including for his activities as an art collector.

2020 Kidnapping Attempt

On June 14, 2020, He Xiangjian became the subject of international attention when intruders entered his home in Foshan and attempted to kidnap him. According to reports, He was held hostage along with family members for several hours. The kidnapping attempt was ultimately unsuccessful; reports indicated that He's son, He Jianfeng, escaped the property by swimming across a nearby body of water and alerted police.

Chinese state media confirmed the identity of the victim as He Xiangjian and described the incident as a botched kidnapping attempt. Five suspects were arrested in connection with the incident. The Foshan police released a statement confirming that the suspects had been apprehended and that He Xiangjian was safe and unharmed.

The incident drew significant media coverage both within China and internationally, in part because of He's status as one of the country's wealthiest individuals. CNN reported that the attempted kidnapping involved individuals who had posed as workers to gain access to He's property. The South China Morning Post noted that the episode thrust the normally publicity-shy billionaire into an unwelcome spotlight.

Recognition

He Xiangjian has consistently appeared on major wealth rankings and lists of influential business figures. Forbes has tracked his wealth over many years, listing him among the richest people in China and in the world. The Bloomberg Billionaires Index estimated his net worth at approximately $28.8 billion in September 2021, ranking him 51st globally at that time.

He has also appeared on the Hurun Rich List, a China-focused ranking of the country's wealthiest individuals, further confirming his status as one of the most economically significant figures in Chinese business.

His recognition extends beyond wealth rankings. As the founder of one of China's largest and most internationally recognized consumer brands, He is regarded as a significant figure in the story of China's post-reform industrialization. Midea's evolution from a small workshop of 23 people to a Fortune Global 500 company represents one of the notable success stories of China's manufacturing sector.

Legacy

He Xiangjian's legacy is closely intertwined with the broader story of China's economic transformation in the late twentieth and early twenty-first centuries. The company he co-founded in 1968 with 23 local residents in a small Guangdong town grew into one of the world's largest appliance manufacturers, employing tens of thousands of workers and selling products in markets around the globe.

His approach to management succession — stepping back from daily operations and entrusting the company to professional managers rather than insisting on direct family control — has been noted as a distinctive feature of his business philosophy. While many Chinese founder-entrepreneurs have struggled with succession, He's relatively smooth transition of leadership has contributed to Midea's continued growth and corporate stability.

Midea's record-setting financial performance in the first half of 2025 demonstrated the enduring strength of the enterprise He built, even as the company has moved well beyond its founder's direct management. The company's expansion into robotics, automation, and other technology-driven sectors reflects a strategic vision that looks beyond the traditional appliance business.

He Xiangjian's trajectory from a collective workshop organizer in Cultural Revolution-era China to the founder of a global manufacturing conglomerate encapsulates a generation of Chinese entrepreneurs who built major enterprises during the country's period of reform and opening. His story is emblematic of the Pearl River Delta's transformation from an agricultural region into one of the world's most productive manufacturing zones.

His continued business activities beyond Midea, including investments in hospitality and financial services, suggest an ongoing engagement with commerce and industry that extends into his ninth decade.