Longtime list member He Xiangjian stepped down from daily operations in 2012 at Midea Group, which he founded with 23 locals in the village of Beijiao in 1968. Today the company is one of China's largest household appliance manufacturers. In May Midea raised $60 million in a U.S. debt sale. The following month China's security regulator approved the privatization of Midea-controlled washing machine maker Wuxi Little Swan, whose shares trade on the Shenzhen Stock Exchange.