Lu Guanqiu (1945 - 2017), founder and former chairman of Wanxiang Group

Lu was an iconic entrepreneur from Zhejiang province who founded China's largest automotive parts company Wanxiang Group and played a pioneering role in reforming township enterprises in China.

Wanxiang was founded in 1969 by Lu and six other local farmers in rural Zhejiang. Today, the company has a 60 percent market share in China's automotive parts sector.

"He is industrious, down-to-earth and low-profile. He is the first name that popped into my mind when asked about a model of Zhejiang entrepreneurs," said Rupert Hoogewerf, founder and chief researcher of Hurun Rich List.

Lu Guanqiu, founder and former chairman of Wanxiang Group, attends the summit of Zhejiang business leaders, in Hangzhou, Zhejiang province on Sept 13, 2012. [Photo/VCG]