Joins Army
Wang joined the People's Liberation Army as a teenager and served for 16 years before he was honorably discharged as an officer. He later took a job at an indebted residential developer affiliated with the Northern port city of Dalian,changed the company's name to Dalian Wanda and became the general manager in 1992. That same year, Bo Xilai became the acting mayor of Dalian. The former Politburo member was charged with bribery, corruption and abuse of power last month and will be tried in court on Aug. 22.
Over the next two decades, Wang built 72 shopping centers,called "Wanda Plazas," anchored by his company's department stores, office buildings and cinemas.
The timing was fortuitous. City dwellers in the world's second-largest economy exceeded the number of people living in rural areas for the first time in China's history in 2011. The urban population has grown at a 3.6 percent compound annual rate since 2002, or 21 million people per year. The mass migration accelerated personal income and consumer demand.
"Chinese consumption, particularly high-end consumption is booming," Wang told reporters in Beijing in June. He plans to have 110 plazas by 2014.
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