In 2010, Du Shuanghua made a deal that would make him millions. He sold Rizhao Steel, a steel company he had founded, to the China Baowu Group for $8.8 billion. This sale was one of the largest in Chinese history, and it made Du very wealthy.
Du Shuanghua was born in 1958 in Rizhao, a city in China’s Shandong province. He founded Rizhao Steel in the early 1990s, and the company quickly became one of China’s leading steel producers. In 2010, Du decided to sell Rizhao Steel to the China Baowu Group. The $860 million transactions were one of the largest in Chinese history.
He studied in the United States in the 1980s and became familiar with the American steel industry. He later returned to China and used his knowledge to build Rizhao Steel into a leading company.
The sale of Rizhao Steel was a significant event in Chinese business history. Du Shuanghua’s decision to sell the company was controversial, but it became a sensible move. The China Baowu Group is one of the largest steel producers globally, and they have been able to use their resources to help Rizhao Steel grow even more significant. Du Shuanghua is now a very wealthy man, and he has played an essential role in developing China’s steel industry.
Since selling Rizhao Steel, Du has remained active in the steel industry. He is now chairman of Beijing Orient Landscape & Environment Co., Ltd., held since 2013. He is also a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), a top political advisory body in China.
The sale of Rizhao Steel was a significant event in Chinese business history. It made Du Shuanghua very wealthy and helped him establish himself as one of China’s leading businesspeople. Thanks to this sale, Du will likely be a significant player in the Chinese steel industry for many years to come. More Business News: https://techbullion.com/an-introduction-to-du-shuanghua-chairman-of-rizhao-steel/