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Liu Chuanzhi

Source: China Entrepreneur Club | Date: 13-08-13  
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Chairman, Legend Holdings Limited

Founder & Honorary Chairman, Lenovo Group Limited

 

Background

Liu Chuanzhi founded Legend Holdings in 1984 with $25,000 in funding from the Computing Institute of the Chinese Academy of Sciences (CAS). At the time, Liu was working as a computer scientist at CAS, and had a difficult time recruiting a team. He explains, "It wasn't easy. The lowest thing you could do in the early 1980s as a scientist was go into business.”

Lenovo’s first significant transaction, an attempt to import televisions, failed. The group rebuilt itself within a year by conducting quality checks on computers for new buyers. Lenovo soon invested money in developing a circuit board that would allow IBM PCs to process Chinese characters. The product was Lenovo's first major success.

Legend Holdings

Legend Holdings has become a conglomerate covering both industrial and investment businesses, and has built a number of industry leading subsidiary companies including Lenovo, Digital China, Legend Capital, Hony Capital, and Raycom Real Estate. Since the acquisition of IBM PC Division in 2005, Lenovo has become the world’s largest PC maker and a Fortune Global 500 Company.

Legend Holdings continues to expand and diversify as the business and consumer world shift towards mobile online computing. Recent acquisitions such as Motorola Mobility and IBM’s server line attest to this transition.

Recognition

Liu Chuanzhi is often recognized as the “Godfather of Chinese private business”. As a pioneer of Chinese entrepreneurship, Liu has been recognized as one of the “10 Most Powerful Business People in China” (Fortune/CNN, 2012).

 

 

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