In 2011, he took the position of chairman at Shenzhen-listed Xiwang Foodstuffs, the first listed corn oil company in China.

FORBES: China Mints Another Billionaire, Wang Yong, As Consumption Of Food Sweeteners Grows

Born in the eastern coastal province of Shandong in 1950, Wang Yong started his business from a small flour mill in Xiwang village.

FORBES: China Mints Another Billionaire, Wang Yong, As Consumption Of Food Sweeteners Grows

Founded by Wang in 1986, Xiwang Group makes sweeteners such as glucose, fructose, maltose, and corn syrup, which are used in making candies, cakes and beverages.

FORBES: China Mints Another Billionaire, Wang Yong, As Consumption Of Food Sweeteners Grows

The group now employs 14, 000 people nationwide and holds three listed companies in Hong Kong and Shenzhen, including Xiwang Sugar Holdings, Xiwang Foodstuffs and Xiwang Special Steel.

FORBES: China Mints Another Billionaire, Wang Yong, As Consumption Of Food Sweeteners Grows

Wang Di owns 1.77% of Xiwang Group.

FORBES: China Mints Another Billionaire, Wang Yong, As Consumption Of Food Sweeteners Grows