Fu Wah International Founder Chen Lihua Dies at 85

Chen Lihua, the founder of Fu Wah International and one of the wealthiest women in China, has passed away at the age of 85, leaving behind a remarkable legacy in the business world.

Once recognized as China's richest woman, she had a net worth of 50.5 billion yuan, equivalent to approximately 7.5 billion dollars, as detailed in the 2016 Hurun Research Institute report on the richest women in China.

Chen was a prominent figure in political circles, serving as a member of the 8th to 12th National Committees of the Chinese People's Political Consultative Conference, where she notably held the position of Vice Chairperson for the 11th and 12th Committee on Liaison with Hong Kong, Macao, Taiwan, and Overseas Chinese. Her accomplishments earned her esteemed accolades, including the Outstanding Women Lifetime Achievement Award from the United Nations.

In 1981, Chen moved to the Hong Kong Special Administrative Region, where she initiated her path to wealth through real estate investments. In 1988, she founded Fu Wah International Enterprises Group in Hong Kong and later returned to Beijing in the 1990s to expand her investment portfolio into various industries, particularly real estate.

Her business ventures primarily revolved around the development and management of high-end hotels, luxury residential clubs, upscale apartments, shopping malls, and office spaces. Additionally, she made notable contributions to the cultural landscape by investing 200 million yuan to establish China's inaugural private museum dedicated to showcasing red sandalwood art.