Posted on 12/09/2003 1:00:02 PM PST by Stew Padasso
Edited on 04/13/2004 2:16:43 AM PDT by Jim Robinson. [history]
The executives at Grace Semiconductor Manufacturing Corp. know a thing or two about guanxi, the web of connections that fuel so much of business in China. The Shanghai-based company was co-founded by Jiang Mianheng, the son of former Chinese President Jiang Zemin. The other co-founder is Taiwan-born Winston Wong, whose father Y.C. Wang runs petrochemical maker Formosa Plastics and is probably the island's most powerful businessman. That's not to say the two don't have pretty solid credentials: Wong founded Nanya Technology Corp. in Taiwan, while Jiang has a PhD in physics from Drexel University in Philadelphia and is vice-president of the Chinese Academy of Science. But as they set out to raise the billions of dollars needed to start a semiconductor company, their true-blue bloodlines didn't hurt.
(Excerpt) Read more at businessweek.com ...
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