Li Shuirong & family

About Li Shuirong & family

Li Shuirong is the chairman of Zhejiang Rongsheng Holding Group, which has interests in petrochemicals, logistics and real estate.

Li, who previously tried to make a living as a carpenter, started his first business in 1989 after spotting an opportunity in the polyester fiber cloth market.

Li is also the chairman of the group's Shenzhen-listed arm Rongsheng Petrochemical, where his son-in-law, Xiang Jiongjiong, serves as general manager.

In 2023 Rongsheng Petrochemical inked a strategic partnership with Saudi Aramco, with the energy and chemicals giant acquiring a 10% stake in the former for $3.4 billion.

In April 2024, the two companies further agreed to each acquire a 50% stake in the other's subsidiary, ZhongJin Petrochemical and SASREF, to jointly develop the subsidiaries' expansion projects.