Luo Zhongfu’s personal experience

Luo Zhongfu once went to the countryside to join the queue, and was criticized for running small businesses at that time. In the future, he started by making sofas and completed his original accumulation with 100,000 yuan earned from making sofas. In 1979, the state implemented the policy and the hundreds of thousands of properties left by Luo Zhongfu's father and grandfather were returned together with the Luo family's "Tianfu Villa". The Luo family took back their property and returned the villa. In 1983, Luo Zhongfu was recruited as general manager by a company in Guiyang. In just six months, he earned 900,000 yuan for the company, which further enabled him to realize his talent in business. Luo Zhongfu left the company and opened a furniture factory and a clothing store. In order to support her husband's business, his wife Yang Xiurong lost her "golden job" and quit her job in a bank to become Luo Zhongfu's best partner.

In 1986, Zhuhai became a special economic zone. Luo Zhongfu once again felt that opportunities were beckoning to him, so he resolutely sold his factories and shops in Zunyi and moved his family to Zhuhai. After Luo Zhongfu arrived in Zhuhai, he resold household appliances and made hundreds of thousands of profits. However, he believed that this was not a long-term solution, so he recruited his old staff and resumed his old business. He established a garment factory, a craft furniture factory, and a comprehensive electrical appliance company in Zhuhai. Luo Zhongfu registered his company as Qianhai Industry and Trade Industrial Company. Guizhou is Guizhou and the sea is Zhuhai, which shows that he never forgets his roots.

The real leap in Luo Zhongfu’s career occurred in 1988. In early 1988, the public auction of state-owned land use rights in Zhuhai stimulated Luo Zhongfu's real estate awareness. He used all his funds, including funds borrowed from his sister who had moved to the United States, to buy into the planned Gongbei Customs Building. The four pieces of land next to the Gongbei Border Inspection Station, next to the Zhuhai Hotel in Jida, and next to the Xiangzhou Department Store later brought him profits of more than 10 million yuan.

In September 1988, Luo Zhongfu adhered to his idea of ??"borrowing the world's wealth to make the world's wealth" and registered his own Qianhai Pawn Shop, which was also the first publicly listed pawn shop in New China. Qianhai Pawnbroker solved the problem of starting funds for building a building after purchasing the land.

In the summer of 1989, Luo Zhongfu seized the opportunity when foreign investors withdrew their capital in large numbers and land prices in Zhuhai dropped to the lowest. He bought a piece of land in Baiteng Lake in the west district of Zhuhai at a price of about 100 yuan per square meter. By May 1992, This piece of land has appreciated significantly, bringing him hundreds of millions of yuan in profits.

In September 1991, with the approval of the Zhuhai Municipal Restructuring Commission, Luo Zhongfu's Qianhai Company was renamed Fuhai Group Company. From 1994 to 1996, Luo Zhongfu was selected into the list of the richest people in mainland China by the American "Forbes" magazine for three consecutive years. Among them, in 1994 and 1995, he was listed as the richest man in China.

In 1996, Luo Zhongfu purchased the American "Tiffany" simulated marble technology for US$5 million. Later, he established a cooperative relationship with Morse Nix, the second-ranked furniture king in Italy, and jointly developed China furniture market.

As the largest nursing home in Asia, Luo Zhongfu’s Fuhai Garden was originally intended to engage in real estate. Luo said, "Before I came into contact with the nursing home project, I had sold more than 90 buildings, and most of the cost had been recovered. At that time, I was faced with two options: one was to sell the remaining properties to collect funds; the other was to engage in nursing homes for the elderly. community. But according to the standards of foreign elderly communities, we still need to build more than 20,000 square meters of houses and supporting facilities, and invest tens of millions of yuan. In addition, it is also very difficult to determine what to do with the villas that have been sold. After starting the Yiyuan project, it was a very difficult period because of the lack of funds. In 1999, I was under the greatest pressure in my more than 20 years of business. In order to build the Yiyuan project, the land in Macau was very low. Transferred."

In 2000, Luo Zhongfu was once again selected into the "Forbes" list of the 50 richest people in mainland China, ranking 28th, with assets under his name of approximately US$70 million.