Tong Jinquan was born in Shaoxing, Zhejiang Province, China in 1954, the seventh of nine children of parents who ran a grocery store.
Tong Jinquan started work in 1975, at a local table tennis equipment factory. By 1983, he had become general manager at another sporting goods company. In 1992, he founded Summit Property Development in Shanghai.
His company, Summit has invested more than $1 billion in a commercial complex in Chengdu. He has significant stakes in three Singapore REITs: Viva Industrial, Cambridge Industrial, Sabana Shari'ah Compliant Industrial Trust, and Suntec. According to Forbes, Tong Jinquan has a net worth of $4.7 billion, as of January 2015.