Wang Xing

China's State Administration for Market Regulation on April 26 launched an investigation into the shopping platform and food delivery giant Meituan Dianping for alleged monopoly conduct including the implementation of an "exclusive dealing agreement."

Meituan was also found to have coerced merchants into ending their transactions with its competitors.

Wang Xing, 42, born in Fujian Province, is the founder and CEO of Meituan. He graduated from Tsinghua University with a bachelor's degree in electronic engineering in 2001, and went on to receive his master's degree in computer engineering from the University of Delaware in 2005.

In 2010, he founded the group-buying site Meituan. It was hugely successful and merged with Dianping in 2015 to become Meituan Dianping, which went public on the Hong Kong Stock Exchange in 2018. As of January 2021, Forbes estimated Wang's net worth at $28.8 billion.