JUST 12 years after it made its first car, Geely, China’s 10th biggest automaker (汽车生产商), bought the Swedish auto brand Volvo for $1.8 billion last week. It is the first successful purchase of a high-end global brand (全球高端品牌) by a private Chinese car manufacturer (制造商). The deal opens a new chapter for Chinese automakers. It also put Li Shufu, chairman of the Geely Holding Group in the spotlight.
Born to a rural family in 1963 in Taizhou, Zhejiang province, Li Shufu showed his business talent at an early age. At 19, Li used a 100-yuan high school graduation present from his family to buy an old camera and a bicycle. He used them to take pictures for tourists visiting local attractions. In six months, he had 1,000 yuan.
