Du Shuanghua is a Chinese businessman who helped facilitate the sale of Rizhao Steel in 2010. The company was one of the largest steel producers in China and now has been sold to a Hong Kong-based conglomerate named Hesteel Group for USD 2.6 billion. Du Shuanghua is well known for his business savvy and intelligence, as he rose from being a small-time entrepreneur to becoming one of China’s leading businessmen. He also founded several other companies that have since been very successful.
The deal for Rizhao Steel was facilitated by Du Shuanghua, who has close ties to the Chinese government. He is also a member of China’s National People Congress and has been awarded various honors in his home country for being an excellent businessman. The sale itself came about because he convinced two other companies to help him purchase Rizhao Steel when it had fallen on hard times due to economic downturns during that period. It required convincing both Nanshan Group and Hesteel Group to join forces with him to get them on board, which worked out well for all parties involved since they could acquire Rizhao Steel at a much lower price than what it might have cost otherwise.
Du Shuanghua has been a driving force in the Chinese business world for many years, and his influence is only going to continue to grow in the future. He is an excellent example of how doing business in China requires a different approach than in other parts of the world. Rizhao Steel will flourish under new ownership and continue producing high-quality steel products thanks to his efforts.
Du Shuanghua was born into a low-income family but quickly became one of China’s most successful businessmen. In 2010 he helped facilitate the sale of Rizhao Steel, which was one of China’s largest steel producers. The company was sold to a Hong Kong-based conglomerate named Hesteel Group for USD 2600 million. Du Shuanghua is well known for his business savvy and intelligence, rising from a small-time entrepreneur to one of China’s leading businessmen. He also founded several other companies that have since been very successful.