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Fu Xumin: A reform, opening-up overseas Chinese success story

(ezhejiang.gov.cn) Updated : 2018-12-07

Editor's note: East China's Zhejiang province is renowned for its large international population. Aloft on the wings of China's reform and opening-up policy, a group of Zhejiang people have gone abroad to make a living since the 1970s. As this year marks the 40th anniversary of the policy, the Zhejiang website (www.ezhejiang.gov.cn) is launching a series of stories about overseas Chinese who are originally from Zhejiang, as well as those who are active in the province's development. Stories courtesy of Zhejiang Federation of Returned Overseas Chinese and Zheshang Magazine


Fu Xumin, an entrepreneur from Zhejiang province [Photo/Zheshang Magazine]

Fu Xumin, president of Europe Chinese Entrepreneurs Convention and chairman of Ningbo Tulip Electron Co Ltd, was elected as one of the most outstanding businessman in Ningbo recently.

"I have three hometowns – Qingtian county, the Netherlands and Ningbo," said Fu, adding that from Zhejiang to Europe and back to Zhejiang, he had fully understood the significance of "home".

Fu's grandfather moved to France in 1937 and 52 years later, the grandson quit his job in China and embarked on a journey to the Netherlands. He overcame the language barrier in the first year and initially struggled to run a Chinese restaurant in the European country. In 1996, Fu began investing in real estates and doing international trade in the Netherlands and then, founded his own company Tulip. This is when his fortunes started to turn.

After gaining success in manufacturing and selling electronic products, Fu turned his eyes to Ningbo, a well-developed city in Zhejiang province and established Ningbo Tulip Electron Co Ltd in 1999. He built a 24,000-square-meter factory in the city and applied the most advanced technologies and management ideas in its daily operations.

Fu's business is partly backed by the financial support from his family and friends, which made him aware of the importance of uniting Chinese people in foreign countries.

In 2002, more than 120 Chinese entrepreneurs, 70-plus scholars and engineers and a dozen artists co-founded an economic and technological development center in the Netherlands and Fu was elected as the first president. The center was established to combine technologies and capitals from both China and the European country and to boost the commercialization of advanced findings.

In 2014, Fu was appointed as the president of Europe Chinese Entrepreneurs Convention. Members of the organization, mostly overseas Chinese entrepreneurs, constructed a headquarters building in Ningbo which connects businesspeople from home and abroad by displaying products and establishing trading ties.

"Overseas businesspeople have ushered in a new era and should focus more on quality resources, capitals and technologies," said Fu.