3i Group has added Frank Gaoning Ning, Bing Xiang and Michael Wu to its newly formed China advisory board. Ning is chairman of Chinese food conglomerate COFCO; Xiang is the founding deal of the Cheung Kong Graduate School of Business; and Wu is CEO and director of Tradelink Electronic Commerce.
3i announces the appointment of three of China’s business elite to its newly formed China Advisory Board, with the aim of guiding 3i’s strategy to support the growth of some of China’s most promising companies.
3i China welcomes Mr Frank (Gaoning) Ning, Chairman of a Fortune 500 leader and one of China’s largest food conglomerates, COFCO (China National Cereals, Oils and Foodstuffs Corporation), Dr Bing Xiang, Founding Dean of internationally respected Cheung Kong Graduate School of Business (CKGSB) and Mr Michael Wu, CEO and Director of Tradelink Electronic Commerce Ltd, formerly a Deputy Chairman of the Shanghai Stock Exchange and former Commissioner in the Strategy and Development Committee of the Chinese Securities Regulatory Commission (CSRC) of the PRC.
The advisory board members will work closely with 3i to help identify new investment opportunities in the Consumer, Business Services and Industrials sectors in China, provide strategic counsel, market access, sector network and opportunities, and assist 3i backed businesses to achieve success within China.
Paul Su, Managing Director, Partner and Head of 3i China explained: “The invaluable experience and insight from this elite group of advisors, alongside 3i’s own global network, accelerates our plans to support China’s most promising entrepreneurs and high growth enterprises to build successful businesses on a global scale.”
At the time of joining 3i’s advisory board, new member Mr Frank Ning said: “I’m very happy to be invited to assist 3i in finding new investments in China and bringing my experience to help create more Chinese success stories in the future.”
The appointments are effective immediately, and the first meeting of 3i’s advisory board took place on 23rd February in Beijing and was attended by 3i’s Chief Executive, Michael Queen and Managing Partner of Developing Markets, Guy Zarzavatdjian.
Frank (Gaoning) Ning is currently Chairman of COFCO, a leading grain, oils and foodstuffs import and export group, one of China’s largest food conglomerates and a Fortune 500 company. Prior to 2004, Mr Ning held various senior roles within divisions of China Resources (Holdings) Co. Ltd., most recently as Chairman and CEO. Mr Ning was named CNBC Asia “Business Leader of the Year” in 2009 for his leadership of COFCO through multiple phases of growth and its evolution in the agro-business chain of growing, storage, processing, trading and branding.
Dr Bing Xiang is one of the pioneers of executive education in China. His writings, publications and research have a profound impact on managerial practice in China. He is viewed as a leading authority on the study of globalization of Chinese companies. He is a member of board of trusties for United Way worldwide and for Asia House (UK). Prior to becoming the Founding Dean of Cheung Kong Graduate School of Business (CKGSB), he was a member of the founding faculty for China Europe International Business School (CEIBS), and later went to Peking University’s Guanghua School of Management where he developed the school’s EMBA and Executive Education programs. He has also spent time as a faculty member at Hong Kong University of Science and Technology and the Chinese University of Hong Kong.
Mr Michael (Wai Chung) Wu was formerly the Deputy Chairman of the Shanghai Stock Exchange and a Commissioner in the Strategy & Development Committee of the Chinese Securities Regulatory Commission of the PRC. Prior to that, he was the former Deputy Chairman, Chief Operating Officer and Executive Director of the Securities and Futures Commission of Hong Kong. Mr. Wu currently holds directorships in two main board listed companies in Hong Kong, Shenzhen Investment Ltd. and Ever Fortune International Holdings Ltd.
3i is an active investor and partner helping to grow Chinese companies through its local presence since 2001. 3i has made a number of successful investments, including Little Sheep, PCD Stores and Focus Media.