Wang Gongquan

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Wang Gongquan, Chinese venture capitalist.

Wang Gongquan (王功权), 52, founder and investor of the CDH Investments and a well-known Chinese entrepreneur and venture capitalist, was arrested on Oct. 20, 2013 by Beijing police on suspicion of disrupting public order.

Wang was born in 1961 in Wanlong Village, Gongzhuling City of northeast China's Jilin Province. In 1984, he graduated from Jilin University of Technology, majoring in management engineering and obtaining a Bachelor of Science. After graduation, he worked in the Publicity Department of the Jilin Provincial Party Committee of the Communist Party of China (CPC).

In 1988, Wang resigned from his official post and went to Hainan Province. He first served as office director of the Development Co. for Laocheng Export Processing Zone under Hainan Provincial Development and Construction Corp., and then went on to become manager of the Xiugang Industrial Co. of Haikou City, Hainan Province. In 1990, he served as vice manager of the Tianjin Investment Co. of the Nande Group.

In 1991, he served as vice chairman of the board of directors of the Hainan Agricultural Hi-tech Investment Joint Development Corp., and as its vice general manager. In 1993, he served as vice chairman of board of directors of the Wantong Industrial Group, president of the Wantong Industrial Group, and chairman of the board of directors of Wangtong's American Company. From 1999 to 2005, he served as a senior partner of IDG Hi-tech Venture Investment Fund. In 2005, he joined the CDH Investments and was in charge of establishing CDH pioneering investment fund.

Wang won many honorary titles and awards for his entrepreneurial achievements during those years, such as the Top 10 Chinese Venture Capitalists, Top 10 Strongest Chinese Pioneering Investors, 1978-2008 Reform Stars and Excellent People Influencing China's Reform.

"Once you have made a choice in investment, you must firmly support it, without hesitation. But once you find problems, you must firmly close down, and not fool yourself with any possible speculation," said Wang, the billionaire.

At midnight on May 16, 2011, Wang made an announcement on Sina Weibo, China's Twitter-like service, saying "Relatives, friends and fellow colleagues, I have given up everything and eloped with Wang Qin. Thanks for your care and help over the many years. Wish you happiness! I cannot face all your expectations and trust, don't know how to explain, and feel rather embarrassed, so I will just leave without saying goodbye. I beg your forgiveness. I humbly thank you."

Wang Qin, born in 1977 in Sanmen of Zhejiang Province, was the chairwoman of the board of directors of Jiangsu Zhongfu Science and Technology Industrial Group Co.

Wang Gongquan's sudden declaration triggered a hot online debate. While some netizens admired Wang's courage to pursue love, many felt sorry for Wang's wife and blamed him for his behavior. CDH issued a letter saying that Wang "is taking some time off to deal with his private affairs and both the venture and private equity fund are operating as usual."

On Jan. 1, 2012, Wang resigned from CDH Investments.

On Sept. 13, 2012, Wang Gongquan was taken away by police from the Beijing Municipal Public Security Bureau and put under criminal detention on suspicion of disturbing public order.

On Oct. 20, 2013, Wang was formally arrested by Beijing police on suspicion of disturbing public order.