Wushang Group's former chairman Mao Dongsheg has passed away at the age of 92.

Wushang Group Co., Ltd. issued an obituary: Mr. Mao Dongsheng, the former chairman of Wushang Group, a national model worker, and a member of the eighth and ninth National People's Congress and the Standing Committee, passed away in Wuhan, Hubei Province, on February 13 due to illness, at the age of 92. Mr. Mao Dongsheng led Wushang Group to achieve many firsts in the Chinese business community. In 1982, after taking over the Wuhan Commercial Market, he boldly borrowed and renovated the old market with innovative ideas. On September 1, 1985, the new Wuhan Commercial Market opened, with sales increasing from 70 million yuan to 200 million yuan in the first year of operation. The loan was repaid that year, leading Wushang to lead the wave of renovations and expansions in the Chinese business industry. On December 25, 1986, Wuhan Commercial Market Group Co., Ltd. was listed as the first joint-stock company in Wuhan and the first commercial enterprise in China to undergo joint-stock reform. On November 20, 1992, "Wushang" was listed on the Shenzhen Stock Exchange, becoming the "first stock in Hubei" and the "first stock in China's commerce".