Interview with Wang Chaoyong

Investors are busy looking for new opportunities amid China's rise of millions of middle-class consumers, especially services whose mass-market potential are yet to be fully tapped.

To catch up with society's trend of change, Wang Chaoyong, chairman and CEO of China Equity Group, a Chinese private equity firm, has moved since three years ago to expand his horizon of interest to include a larger variety of projects.

In an interview with China Daily, Wang shared their equity investment deal in Longwen Education, which has been the largest deal in China's educational service sector.

In 1984, Wang graduated from Huazhong University of Science and Technology.

In 1985, he was sent by Tsinghua University to study abroad, eventually earning an MBA degree from Rutgers University, becoming the first generation of Chinese students that studied abroad and worked on Wall Street.

In 1987, he began his financial career at JP Chase in their investment banking division, then later transferred to Standard & Poors as an associate director.

From 1993 to 1998, Wang led Morgan Stanley's Asia business as a vice president as well as head of China.

In 1998, Wang accepted a role to lead China Development Bank's investment banking business.

In 1999, he founded China Equity Group and carried the role of chairman and CEO to present.

Reporter: Cai Xiao

Video: Lou Yi

Producer: Flora Yue