Taiwan entrepreneur just keeps on learning

Wu Chia-ying, president of the Taiwan Businessmen Association in Xiamen, Fujian province, recently got an offer from the Tsinghua University PBC School of Finance.

Over the past 10 years, the 62-year-old entrepreneur earned five master's degrees and two PhDs from six well-known universities and colleges, including Fudan University, Xiamen University and the University of Hong Kong.

"I prepared for the entrance exams attentively," Wu said, noting that one cannot get in simply by paying money. "After enrolling, I worked harder to graduate since I'm older."

To be an MBA student at Tsinghua University, Wu spent several months preparing for the national post graduate entrance examination. He even hired a PhD student to coach him.

Wu started his own business in Xiamen more than 20 years ago.

In addition to being president of the Taiwan Businessmen Association in Xiamen, Wu is also executive vice-president of the Association of Taiwan Investment Enterprises on the Chinese mainland.

He often calls on his Taiwan compatriots to strive for development on the mainland, saying there is a large market, good policies and many opportunities.

Although he is busy with business and association affairs, Wu spends four or five hours a day studying. Many people have asked him why.

"Learning is a lifetime thing. I want to set a good example for the younger generation," he said.

In the beginning, it helped him get over depression.

"More than a decade ago, my business was on track but I became depressed," he recalled.

He took a lot of medicine, but the effect was not obvious. Then, a doctor suggested that he focus on one thing that would make him happy. For Wu, that was continued learning.

"It has cured me. Gradually, the anti-depressant drug doses were decreased. Now I don't need them," he said.

Nowadays, Wu often visits hospitals in Taiwan and Xiamen to share his success with other patients. He said what he learned is mainly related to enterprise operations and management. Some entrepreneurs in the associations consult him when they encounter problems.

"Thanks to reform and opening-up, the first generation of Taiwan businessmen who came to the mainland with capital and technology mostly earned a lot. However, after two or three decades of development, their enterprises are facing the challenge of transformation and upgrading," Wu said.

"How to transform? It's not easy. I often take the practical problems we encounter as subjects and conduct targeted research and find solutions."

For example, how can costs be reduce? What processes can be automated? How does the business fit in the world market? How are assets allocated for generational transmission?

To Wu's delight, his research results and suggestions have been adopted by many of his fellow businessmen in Taiwan. He has helped their enterprises perform better.