Zhang Wenzhong

In December 1994, Zhang established China's first modern supermarket chain ‘Wumei’, also known as Wumart Stores, in Beijing. He applied advanced information and circulation technology to traditional business enterprises and led the development of China's retail industry. As the largest commercial retail enterprise in Beijing, Tianjin and Hebei Province, and one of the largest private trade and circulation enterprises in the country, Wumart has been praised for being the "rice bag and vegetable basket" of Beijing.[2] In 2003, Wumart became the first private retail business in China to be listed on the Hong Kong Stock Exchange (HKEx).

Prior to founding Wumart, Zhang worked in the Development Research Center of the State Council of China in the late 80s and early 90s.

Zhang has received honors and awards from the State Council (central government) of China, ACFIC(All China Federation of Industry and Commerce) and Municipal Government of Beijing. He was appointed and elected Member of the National Committee of the 10th CPPCC(Chinese People's Political Consultative Conference), Deputies to the 12th Beijing Municipal People's Congress, Member of the Standing Committee of the 9th ACFIC, Member of Standing Committee of the 10th National Youth League, Vice chairman of the Beijing Federation of industry and Commerce.

Zhang is also a visiting professor of Renmin University of China and Nankai University.

Since his exoneration, Zhang has devoted himself again to the development of China's retail market with a series of technology driven innovations.

In 2014, Wumei Holdings acquired B&Q China and helped turn around the retailer's heavy losses by applying the Omni-channel O+O new business model. Through this model, an online and offline store system built on internet and big data technology was implemented in all stores. B&Q China now operates under three different store formats, flagship stores, S2B and studio.

In 2015, joined by some young entrepreneurs and IDG Capital, Zhang launched a distributed e-commerce system through the mobile application Dmall, enabling traditional supermarkets to transform into omni-channel retailers and achieve online-offline integration. By collaborating with Dmall, established traditional retailers improved their operational efficiency and optimized customer experience. This was achieved through factors such as technology upgrades, a fast and convenient checkout system, instant delivery service, improved supply chain, assortment management, inventory and warehouse management, membership management and marketing. As of April 2018, Dmall has partnered with 3225 offline stores all over the country and has a total of 40 million registered users and over 7 million monthly active users.

With cutting edge big data, IoT and AI technology, Zhang and Wumei Holdings are in the process of digitalizing all physical stores, including launching a cashier revolution by featuring Instant Pay, Self-Check Out, Scan & Go, and Smart Cart as part of its tech-based store operations in Wumart stores.

Wumei Holdings today operates over 1000 stores nation-wide in Northern, Eastern and North-Western China with annual sales and assets over RMB 50 billion. Through reform and innovation, the group has rejoined as one of the top-tier retail enterprises of China.

Earlier this year, Wumart acquired 21 Lotte Mart stores in Beijing from South Korea's Lotte Shopping for around 248.5 billion won ($230.2 million). Many of Wumart's existing large stores have been renovated into a unified shopping experience including catering, hairdressing salons and community services.

"As an integral part of the future for Chinese and global retailers, digitization is being accelerated, with Dmall serving as a provider and implementer. By integrating online-offline retail systems using the internet, big data and artificial intelligence, retail digitization will help provide lower costs, greater efficiency, and a better customer experience." "For me, my mission is to continuously improve digital retailing, upgrade the unification of online-and-offline experiences, provide safe and fresh food for society and provide a better income for Wumart's employees," Zhang said on May 31, 2018.[3]

· Nov 12, 2006: Zhang Wenzhong investigated for graft by government authorities. Zhang later resigned from Wumei.

· Dec 25, 2007: Prosecutors in Hengshui, Hebei province, formally charged Zhang with fraud, embezzlement and bribery.

· Oct 9, 2008: The Hengshui Intermediate People's Court sentenced Zhang to 18 years in prison and impose a fine of 500,000 yuan ($78,038). Zhang appealed.

· March 30, 2009: The Hebei High People's Court made a final ruling on the appeal. Zhang sentenced to 12 years in prison for the three crimes, still with a fine of 500,000 yuan.

· Feb 6, 2013: Zhang was released from prison. Zhang twice received commutations.

· December 2015: The court in Hebei rejected Zhang's appeal.

· October 2016: Zhang appealed to the Supreme People's Court.

· Dec 27, 2017: The Supreme People's Court agreed to retry Zhang's case.

· Feb 12, 2018 The top court hears the case publicly.

· May 31: Zhang's is cleared about 10 years after being pronounced guilty by the first court[8]