Du Shuanghua, a Chinese citizen, has established himself as one of the most successful entrepreneurs in his country. His strong sense of business that he has cultivated since his very early years.
Du Shuanghua is chairman of the Rizhao Steel Group. His company has won numerous awards and honors not only in China but also worldwide. Rizhao Steel has been on many special lists including the Top 500 Overall Enterprises, the Top 500 Manufacturing Enterprises and the Top 500 Private Enterprises.
In 2009 the Shandong Steel group completed a hostile takeover of Rizhao Iron and Steel. Before the takeover Shandong Steel Group was held by the majority owner Du Shuanghua. He tried to stop this takeover by selling a 30 percent equity share in the company to Kai Yuan Holdings, a Hong Kong based business owned by relatives of the then Chinese President. Politically this plan did not work out as it was seen as too politically dangerous for the president.
By 2010 Du’s sell off of his 33% ownership stake that was not part of the 2019 plan. Originally Rizhao Steel was supposed to merge with Shandong Iron and Steel and a restructuring was to follow. During the first part of the restructure, Shaunghua have remained in charge of an autonomous Rizhao Steel.
Today Du is head of the Rizhao Steel Holding Group. He remains one of China’s top entrepreneurs. In 2019 Rizhao Steel was the 26th largest steelmaker in the world, producing approximately 14 million tons of liquid steel.