[3] Lu was born in January 1945 in Xiaoshan,[4][5] Hangzhou, Zhejiang, into a peasant family.
In July 1969, he co-founded a factory with six other farmers, producing small agricultural machines.
It eventually became a large manufacturing conglomerate and a leading producer of automobile facilities and components.
[citation needed] He also was awarded an honorary doctorate from the Hong Kong Polytechnic University.
According to the Forbes China Rich List (福布斯中国富豪榜), Lu was ranked No.