Cao Dewang. chairman of Fuyao Glass Industry Group, has been named Ernst & Young World Entrepreneur of the Year for 2009, in which New Zealand was represented by retailer Michael Hill.

The founder of Michael Hill International was one of 50 finalists at the awards in Monte Carlo at the weekend.

Fuyao Glass makes windscreens and other glass products for cars and commands a market share in excess of 50% in China. The company is ranked fourth in the industry globally.

"Cao Dewang is a deserving winner. He demonstrated all the qualities of leadership, vision, and business acumen one would expect as a world business leader," says Jon Hooper, Ernst & Young Entrepreneur Of The Year Award Director for New Zealand.

The World Entrepreneur of the Year judging panel was chaired by J Christer Ericsson, founder of the JCE Group, and a country Entrepreneur of the Year judge for Sweden.