World-renowned business magazine Forbes has named Dalian Wanda Group's founder and chairman, Wang Jianlin, as 2013 Asia's businessman of the year.
The 59-year-old chairman of one of the country's largest real estate developers and the world's largest operator of cinemas received the recognition because his empire rests on a power of three values - structure, culture, and execution.
The Forbes article, which is the cover story of the Dec. 2, 2013 issue of Forbes Asia, was written by Forbes Shanghai bureau chief and senior editor Russel Flannery. Flannery said Wang is leading a rising crop of Chinese businessmen who are starting to rebuild the global business arena.
The Dalian Wanda Group boasts of US$48 billion in assets, which count 80 retail malls, residential units, and 46 five-star hotels, all situated in China. Wang's wealth also soared with the acquisition of the largest US theater chain, AMC, last year.
Wang also topped the 2013 edition of the Forbes China Rich List, which identified a record 168 billionaires in the country. He was followed in the list by Chinese beverage tycoon Zong Qinqhou, who has a total fortune of US$11 billion.
Although he topped Forbes list of Asia's richest, Wang is not expected to raise his cross-border deal-making power, said University of Michigan's Erick Gordon.
Gordon said that doing business outside of China is a different story, noting that Wang's businesses are only focused in China. He said Chinese businessmen need money, expertise, and understanding of the international trading to succeed globally and not just a spot on the front pages of business magazines.
Wang was also named the richest person in the Chinese mainland by the latest Bloomberg Billionaires Index. Bloomberg said Wang increased his shares in Wanda Commercial Property Co to US$7.4 billion this year
Wang earlier announced the hiring of two investment banks to assist him in his quest to buy more hotel management companies as he plans to build hotels in London, New York, and eight other major cities around the world.