Yao Zhenhua was born in Shenzhen, China, China, is Chairman, Baoneng Group. Yao Zhenhua is #169 in List Billionaires People In The World. Yao Zhenhua was barely known before an insurer he controls started to buy shares in property developer China Vanke, where he holds a 25% stake. Regulators unhappy with trading by Yao's insurer Foresea Life barred him from holding a position in the industry for a decade. Yao founded Baoneng Group in 1992 as a retailing business; today it has more than 40 shopping malls around China and is involved in healthcare.