Early Life
Chi Yufeng, also known as Michael Chi, was born on September 15, 1971, in Beijing, China. His early life was marked by a strong interest in technology and innovation. He graduated from Tsinghua University in 1993 with a degree in Chemistry and earned an MBA from China Europe International Business School (CEIBS) in 2004. Chi began his career as an engineer at P&G Inc. before venturing into entrepreneurship.
Rise to Success
In 1996, Chi founded Beijing Hongen Education and Technology Co., Ltd., focusing on educational software development. His company aimed to help millions of Chinese families learn to use computers in the 1990s. Hongen educational products captured a significant share of the Chinese market. Recognizing the growth potential in online gaming, Chi founded Perfect World Games in 2004. The company quickly became a leading online game developer and publisher in China. Perfect World Games was listed on the NASDAQ in 2007 and later privatized in 2015, showing Chi’s business acumen. In 2008, Chi created Perfect World Pictures Co., Ltd., expanding into film and television production.
Key Business Strategies
Chi Yufeng’s success stems from several key strategies. His focus on innovation and adapting to market trends, specifically the shift from educational software to online gaming, enabled him to capitalize on emerging opportunities. He prioritized product quality and customer satisfaction, leading Perfect World to become a prominent name in the global market. Chi led the asset reformation of Perfect World Pictures and Perfect World Games to list on China's A-shares market (ticker: 002624) in 2016.
Philanthropy
Chi Yufeng has not publicly disclosed the exact amounts of his philanthropic contributions. His company Perfect World has been involved in social welfare for many years, supporting its employees and organizing educational events in rural primary schools by donating money and books.
