Rong Desheng on Corporate Governance

Rong Desheng's role is documented as: co-founder; took sole control of the Rong business empire after brother Rong Zongjing's death in 1938 Deceased July 29, 1952, per Wikipedia (research date: 2026-08-23).

After the 1949 founding of the People's Republic of China, Rong Desheng chose to stay on the mainland and cooperate with the Chinese Communist Party rather than relocate his assets, and received favorable treatment as a result; his son Rong Yiren later became PRC Vice President in the 1990s.

The Rong enterprise survived the war under Chinese family control rather than being sold to Japanese interests, per Wikipedia's biography.

Rong Desheng and his family received favorable treatment from the new PRC government; his son Rong Yiren went on to become Vice President of the People's Republic of China in the 1990s.