Ⅰ. Wu Bingxin Known as Father of Consumption Theory
Wu Bingxin is known as father of consumption theory. Professor Li Lianzhong, director of Theory Bureau of China Central Policy Research Office, first put forward it in China. He said, “It is Mr. Wu Bingxin who specially traced the origins and studied consumption theory comprehensively from consumption to each level of society in China and even in the whole world. He deserved father of consumption theory.” Afterwards, Professor Zhou Dongtao, the famous economist as well as director of Central University of Finance and Economics and China Institute for Development and Reform, said firmly, “Wu Bingxin is the first to put forward consumption theory, and finally form Consumption Comprehensive Theory System. He is father of consumption theory.”
In China, everyone without exception admires the great career of Wu Bingxin, including the theory, Sanzhu Company and a number of invention patents of great significance which has been converted into social productive forces of consumption. His company solved the employment of 150000 people for China, paid tax of more than 1.8 billion Yuan. In addition, various social donation made by the company has reached more than 0.2 billion Yuan. In recent years, in theory circle of China and among Chinese government officials, what people admire is not only the great career of Sanshu, but also Wu Bingxin’s academic achievements and theory. Consumption and Management—Rule Discovery and Application and New Theory of Leadership Management Scientific written by him have been published by Oxford University Press in the United States. They have also been sold globally, making China’s economic theory and leadership management emerge into the global economy.
Mr. Wu Bingxin has gone through three major events in his whole life. The first was that he made huge contributions at the post of basic-level leadership in the state-owned enterprise in the construction of the motherland in 50s to 70s. The second was that he invented body bionics and bioengineering technique after he retired in 48. The technology has transformed symbiosis patent of beneficial bacteria and series of products—fermented traditional Chinese medicine, and even more than 20 international and domestic patents into social productive forces of consumption. He also established Sanzhu biological kingdom that captured worldwide attention. The third is that he spent 30 years writing a great book, namely Consumption Theory which is nearly 1.5 million words. Logical relationship among such three events is progressive. Each is much deeper and more profound that another. Especially the third event, namely, publish of Consumption Theory is bound to make enormous influence in theory circle.
Mr. Wu is known as a successful entrepreneur. In fact, Mr. Wu is first a theorist and then an entrepreneur. He is industrious scholar who is fond of theoretic learning, thinking and exploration.
Wu Bingxin was born in Rongcheng Shandong in 1938. He currently holds posts of president of Sanzhu Group, dean, professor and doctoral adviser of Research Institute of China’s Consumption Economy of Foreign Trade University, professor and doctoral adviser of University of Houston in the United States, permanent executive director-general of Wufeng International Industrial and Commercial Center of Education, part-time professor of Central University of Finance and Economy, part-time professor of China National School of Administration, and contract research fellow of Shandong Academy of Social Sciences.
He is currently part-time professor of Shandong University, visiting professor of Jinan University, visiting professor of Ecologic Institute of Dalian Medical University, and contract research fellow of Oriental Institute; member of standing committee of the Eighth and Ninth Chinese People’s Political Consultative Conference of Shandong Province, member of standing committee of Jinan Municipal Political Consultative Conference, executive member of China Federation of Industry and Commerce, vice-chairman of Chamber of Commerce and Industry in Shandong Province and Jinan City, chairman of Shandong Private Entrepreneurs Association, vice-chairman of Chinese Experts Association, vice president of China Private Scientific and Technological Promotion Association, standing director of Traditional Chinese Medicine Institute, president and chief expert of Shizhen Bioengineering Research Center, president of Beijing Gene Engineering Research Institute, and president of Beijing Nuozhou Biology Research Institute.
He was rated as “person contributing to development of market economy in China” by China Research Society of Market Economy and China Newspaper Office of Market Economy, and won “global diamond award” by Excellent Service Science Association of America. Mr. Wu Bingxin has successively won awards of more than ten provinces. In 2013, he won Invention and Entrepreneurship Award of Shandong Province and Excellent Management Expert Award of Shandong Province. In 2014, he won the Eighth “Invention and Entrepreneurship Award • Character Award” of China and the Fourth Management Science Award of China Management Science Association (practice class).
Wu Bingxin owns 12 personal invention patents and 3 international patents, among which 6 patents have been transformed into social forces of consumption. He was rated as the person contributing to development of market economy in China by China Research Society of Market Economy and China Newspaper Office of Market Economy. He has published personal writings such as Collected Works of Wu Bingxin and Anthology of Wu Binxin, and poem collection such as Passion Poetry, Poetry of Thoughts and Emotions, etc. He has also published over 20 papers in relevant journals both at home and abroad. In May 2008, he published Consumption Theory, a large monumental academic work that is completed by the author in 30 years. In 2010, General Theory of Consumption was published by China Literature Press. In 2011, Consumption and Management—Rule Discovery and Application was published by Oxford University Press in England and issued in the whole world. In 2014, Fermented Traditional Chinese Medicine was published, attracting great attention of Academician Chen Keji of China Academy of Science and traditional Chinese medicine circle. Ms. She Jing, chairman of World United Association of Institute of Traditional Chinese Medicine, former deputy minister of Ministry of Health, former director of State Administration of Traditional Chinese Medicine and committee member of the Eleventh Chinese People’s Political Consultative Conference made inscription for the book. Chen Keji, senior academician of China Academy of Science, wrote preface for the book.
In 2012, New Theory of Leadership Management Scientific was published by China Youth Press. In the same year, theory seminar “summit on consumption-oriented economy and scientific innovation of leadership management” was held in Beijing. Gu Xiulian and Sima Yi• Aimaiti, vice chairmen of the National People’s Congress, Li Meng, vice chairman of the CPPCC were present at the conference. There were also scholars and experts from Center for Policy Research of the State Council, Central University of Finance and Economy, Party School of the CPC Central Committee, National Institute of Public Administration, Fudan University, Peking University, and Tsinghua University attending the conference. More than 30 key news media in China such as People’s Daily, Economic Daily, Wuhui Daily, CCTV, Xinhua News Agency, Phoenix Television, etc. reported the conference.
In May 2013, the English version of New Theory of Leadership Management Scientific was published by Oxford University Press in England. Mr. Glenn, chief editor of the press evaluated the author, “I just saw sample of the new book from our typographer. It is a wonderful book. I would like to express my sincere admiration to the work of Mr. Wu. This is a quite excellent book. Please convey my regards and respect to Mr. Wu. I would appreciate it very much.”
In 2010, the author was invited to make an academic speech on core thoughts in Consumption Theory in University of Houston and University for Peasants and Works in the United States.
In 2011, Consumption and Management—New Discovery and Application was taken as the textbook by School of Business of University of Houston.
On November 2, 2013, School of China’s Consumption Economy was established in China Foreign Economic and Trade University, with Wu Bingxin as dean and doctoral adviser.
The author founded Sanzhu Enterprise under the guidance of theory. The author invented 12 domestic and international patents, including patents of European Community, Japanese and Korea and successfully transformed them into social forces of consumption. The series of products has distinct effect on rare and incurable diseases such as tumor, digestive system and so forth.
Since the enterprise was founded in 1993, the author and its enterprise have made the following achievements and contributions to society:
In 1993, establishing the company with registered capital 300,000 Yuan
In 1994, realizing sales payback 125,000,000 Yuan
In 1995, realizing sales payback 2,350,000,000 Yuan
In 1996, realizing sales payback 8,060,000,000 Yuan, paying tax 821,000,000 Yuan
In 1997, realizing sales payback 8,000,000,000 Yuan, registered capital growing into 4,800,000,000 Yuan from 300,000 Yuan
There are 640 subsidiary corporations, 2200 offices and 13500 workstations in China with network coverage only second to post.
Donations for 230,000,000 Yuan
Velocity of capital turnover is 27.4 days (international multinational company is 45 days)
Solving employment for 157,000 people
Annual sales of single products are 8,000,000,000 Yuan
Annual tax-payment is 820,000,000 Yuan
Training 600,000 employees
The company developed with twists and turns with reform and opening-up. During development, it also received a lot of frustrations. At present, through years’ adjustment and regulation, the company has been reviving since 2011 under the guidance of its own theory. It is currently developing comprehensively in order to realize “human life to be prolonged by ten years, appearance to be ten years’ younger” with international and domestic patented technology products and by introducing new operating mode of “Double Thousands Engineering”.