Li Xiting on Industry Transition

Li's first entrepreneurial venture was at Shenzhen Anke High-tech Company, a partially state-owned enterprise set up by the Chinese Academy of Sciences, which became China's first home-grown developer of medical devices and launched the country's first MRI scanner in 1989.

Li founded Mindray in Shenzhen in 1991 together with Xu Hang and Cheng Minghe, both former Anke colleagues; the company secured its first contract, a 360,000-yuan sale, at a medical equipment convention in the 1990s, and by 2008 had become China's largest medical device manufacturer.

As of Mindray's Wikipedia company profile, the firm reported 2024 revenue of US$5.1 billion, operating income of US$1.54 billion, and net income of US$1.46 billion, with about 21,000 employees as of 2025 and operations spanning 41 subsidiaries and branch offices across 31 countries plus 32 branch offices within China.