Portrait of one of the great non-technological fortunes of the Chinese economy, Nonfu Springs.

Nongfu Springs is a Chinese bottled water and beverage company headquartered in Hangzhou’s Xihu district. It is owned and chaired by its founder Zhong Shanshan.

The company recorded sales of 24 billion yuan (US$3.4 billion) in 2019, up from 20.47 billion yuan a year earlier.

Thanks to growth and acquisitions, Nongfu Spring has become China’s largest bottled water producer and one of the top three producers in the bottled tea and juice market.

Professor Jacquet explains and analyzes the company in detail.