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Xu Jinghong, chairman of Tsinghua Holdings[Photo provided to Chinadaily.com.cn]
In an interview with China Business News Xu Jinghong, the chairman of Tsinghua Holdings, talked about innovation and his management of the company. Xu has taken the company, which is the controlling force behind Tsinghua estates in TusPark, from a value of 58 billion yuan to 300 billion since 2012.
According to Xu, innovation, entrepreneurship, capital investment and structural reform are all factors that contributed to Tsinghua estates rapid development in recent years. Under his leadership, Tsinghua Holdings gives its member enterprises sufficient freedom of business operation with supervision and uses an assessment system to stimulate promotion. This approach, along with advancing technology and rich human resources, has brought about an economic miracle.
Tsinghua Holdings, a giant in the Chinese capital market
Xu, born in 1963, went to Tsinghua University to study mechanical engineering in 1980 and received a master's degree in 1988. After graduation he stayed at Tsinghua to teach and then at various times was appointed deputy secretary of the Tsinghua Youth League Committee, deputy director of the principal's office, chief of the administrative affairs office, deputy dean of general affairs and principal assistant.
Even though he is now a businessman, he is still a researcher at Tsinghua University and thinks and behaves like a classic scholar. He enjoys hierarchy-breaking discussions and speeches, and gets along with his subordinates hoping to spread equality in this giant company.
In 1999, Xu established TusPark Construction Co., Ltd. (the former TusHoldings), which was the start of his Tsinghua estates career. In 2012, he became the chairman of Tsinghua Holdings, gaining control of all of Tsinghua estates.
Led by Xu, TusHoldings and Unisplendour Corporation have become the core of Tsinghua estates, with total assets of hundreds of billions of yuan. Tsinghua also holds many other successful companies in start-up business services, information technology, biological medicine, safety technology, education, finance, energy, smart cities and innovative culture, including Tsinghua Tongfang, Chengzhi Shareholding, NUC Tech, Tongfang Knowledge Network, Global Safety Technology, CapitalBio, Human Settlements Environment, MOOC-CN Education, TH Nuclear and THTI Holdings. There are more than ten listed companies belonging to Tsinghua, investing and doing business both domestically and internationally.
All these high-tech companies constitute a giant business family that couldn’t have achieved such success without Xu's guidance.
In discussing the Tsinghua way of development, Xu pointed out that it mainly relies on technology services such as scientific parks and incubators, and technology innovation, that is to say, taking advantage of the Tsinghua University resources and transforming laboratory patents into profitable products.
Tsinghua estates also concentrate on investment, acquisitions and mergers, in accordance with the idea that "Industry is the essence, finance is the tool".
"What is the reason for an enterprise's improvement?" Xu Jinghong rhetorically asked. "In China nearly every company except Huawei has developed itself, with capital’s help."
