Dong Mingzhu, CEO of Gree Electric Appliances. (Photo/Xinhua)
Women CEOs in China, were they have been nicknamed "ShEOs," who now control 20% of the mainland's small and medium businesses, delivering even better performance than their male counterparts, Shanghai's CEIBS Business Review reports, citing the China Association of Women Entrepreneurs.
Sixty percent of China's SMEs were founded within the past ten years, the report said, and two thirds of businesses with female CEOs have hired more women than men, it said.
Notable ShEOs include Daisy Poon, CEO and founder of Ajisen (China) Holdings; Dong Mingzhu, president of Gree Electric Appliances, and MM Media & Consulting Co managing director Patricia Cheong, the report said. In Hurun's global top ten self-made women entrepreneurs in 2009, six were from China.
Successful businesses run by women CEOs made profits 7.8% higher on average than companies run by men; there were 4.3% more female CEOs than male at businesses that broke even; at companies that suffered losses, there were 12.1% fewer women CEOs than men, the report said.
The so-called first generation of ShEOs, who are typically in their 50s, are considered the pioneers, hard-working and self-sacrificing, such as Haier president Yang Mianmian, the report said.
The second generation, in their 40s, have shown the ability to go toe-to-toe against their competitors, such as NeoGlory Holdings Group chairperson Zhou Xiaoguang.
The youngest generation, in their 30s, have been born into a more equitable environment and typically possess a confidence in following in the footsteps of former trailblazers, such as Liu Wei, president of Shanghai Giant Network Technology, the review reported.