Fan Hongwei: A Journey from Accountant to China’s Richest Woman

Fan Hongwei, born in February 1967 in Jiangsu Province, China, has emerged as a prominent entrepreneur and one of the wealthiest women in the country. Her remarkable ascent from humble beginnings to leading Hengli Petrochemical, a global leader in the chemical fiber industry, underscores her exceptional business acumen and resilience.

Raised in a modest household, Fan’s parents prioritized her education despite financial constraints. She attended Nanjing Normal University, where she earned a degree that laid the foundation for her future endeavors.

After completing her education, Fan began her professional journey as an accountant. This role provided her with a solid understanding of financial management, a skill that would prove invaluable in her entrepreneurial ventures.

In 1994, Fan and her husband, Chen Jianhua, ventured into the textile industry by acquiring a struggling factory in Wujiang, Suzhou. They transformed this enterprise into Hengli Group, focusing on chemical fibers and later expanding into petrochemicals. Under their leadership, Hengli Group has grown into one of China’s largest private enterprises, with an annual revenue exceeding 780 billion yuan.

Hengli Petrochemical, the group’s flagship company, specializes in producing polyester chips and filaments used across various industries, including packaging, electronics, and pharmaceuticals. The company’s strategic expansion and innovation have solidified its position in the global market.

In 2022, Fan Hongwei’s net worth was estimated at $8.95 billion, making her the richest woman in China at that time. However, in September 2022, she transferred a stake valued at approximately $3.8 billion to her husband, Chen Jianhua, adjusting her net worth accordingly.

As of January 2025, Fan’s net worth is estimated at $4.2 billion, placing her among the world’s wealthiest individuals.Despite fluctuations in her financial standing, Fan continues to lead Hengli Group with a focus on innovation and sustainable growth.

Fan’s leadership and business achievements have garnered significant recognition. In 2020, she was included in Forbes’ list of the 50 top CEOs in China and was ranked sixth on Hurun’s list of the world’s richest self-made women.

Fan is married to Chen Jianhua, who serves as the chairman and director of Hengli Group. Their daughter, Chen Yiting, born in 1993, has been involved in the family’s business ventures, including serving as a director of Suzhou Wujiang Tongli Lake Travel, a subsidiary of Hengli Group.

While specific details about Fan’s philanthropic activities are limited, her leadership in Hengli Group has contributed to economic development and job creation in the regions where the company operates.

Under Fan Hongwei’s stewardship, Hengli Group is poised for continued growth and diversification. The company’s commitment to innovation and sustainability positions it well to navigate the evolving global market landscape.

Fan Hongwei’s journey from an accountant to the helm of a leading petrochemical conglomerate exemplifies entrepreneurial spirit and determination. Her story serves as an inspiration to aspiring business leaders, highlighting the impact of vision, resilience, and strategic leadership in achieving success.