Yao, the richest man in Shanxi, has reached 8.5 billion yuan. Yao's wealth mainly comes from his family business-Meijin Energy, a listed company whose main business is coke production. Yao, male, born in 1953, is the chairman of Shanxi Meijin Energy Group Co., Ltd. Yao was born in Qingxu County, Taiyuan City, Shanxi Province, the heir of Shanxi Jiaowang, and a private entrepreneur in China. He is a member of the Standing Committee of Shanxi Provincial Committee of China People's Political Consultative Conference, an executive member of the 7th, 8th and 9th National Federation of Industry and Commerce, and a vice chairman of Shanxi Federation of Industry and Commerce. He enjoys a high reputation in Shanxi business circles. In April 2009, the coke and steel market continued to slump, which made Yao, the richest man in Shanxi, plan to sell his steel assets-Shanxi Meijin Iron and Steel Co., Ltd.