Early Life
Li Xiting was born in 1951 in Dangshan County, Anhui Province, China. He joined the People's Liberation Army at age 18 before pursuing higher education. Li demonstrated a strong academic aptitude from a young age, which led him to pursue a degree in low-temperature physics at the University of Science and Technology of China (USTC). He graduated from USTC in 1976 with a Bachelor of Science degree.
Rise to Success
After graduating, Li worked as a researcher at academic institutes. In 1987, Li joined Shenzhen Anke High-Tech Company, a partially state-owned enterprise, where he gained expertise in medical equipment development. In 1991, Li co-founded Shenzhen Mindray Bio-Medical Electronics Co., Ltd. with seven colleagues. Under Li's leadership, Mindray has grown significantly, becoming a global leader in medical devices. Mindray went public on the New York Stock Exchange in 2006 and was later listed on the Shenzhen Stock Exchange. Li became a naturalized Singapore citizen in 2018.
Key Business Strategies
Li's strategy for Mindray involved a focus on innovation, strategic acquisitions, and global expansion. The company invested heavily in research and development. Mindray expanded its product line, including manufacturing ventilators during the COVID-19 pandemic. Mindray expanded its operations to over 190 countries, establishing a strong international presence. Li also led a buyout to take the company private in 2016, ensuring continued growth under private ownership.
Philanthropy
Li Xiting is known for his philanthropic contributions, particularly to educational institutions. In 2010, he donated to aid earthquake relief efforts. In 2011, he donated to USTC to support academic development. In 2020, Li donated 106.8 million RMB to USTC. In 2022, he donated 1 billion RMB to Dangshan Middle School.
