Here's more on this villainous character from the Marvel Database
"The Mandarin's parents died shortly after he was born. The Mandarin spent all of his vast inheritance training at science and martial arts. Doing so caused him to go broke at roughly the same time he reached adulthood. The Chinese government evicted him because he was too broke to pay his taxes. The bitter, broke, homeless, but extremely well trained Mandarin began to wander the earth. He found an alien space-ship during his wandering. He studied the ship to gain knowledge of advanced science, and stole rings he found within it. The Mandarin uses a combination of superhuman martial arts abilities, alien science, and the ten energy-blasting rings he found to wage a never-ending war on civilization."
Iron Man 3 was released May 3rd, 2013 and stars Robert Downey Jr., Gwyneth Paltrow, Don Cheadle, Guy Pearce, Rebecca Hall, Jon Favreau, Ben Kingsley, James Badge Dale. The film is directed by Shane Black.