The Forbes 2025 China Rich List revealed that the Zheng Shuliang family, with a fortune of 180.9 billion yuan, ranked among the top ten. Zheng Shuliang, 79, is the wife of late industrialist Zhang Shiping and mother of Zhang Bo. Behind this staggering wealth lies a dual industrial empire in textiles and aluminum, built over two generations by the Zhang family.
Starting from a struggling rural cotton oil processing plant, the Zhang family transformed their business into a multinational conglomerate with annual revenues exceeding 500 billion yuan, dominating global textile and aluminum industries. From a local workshop in Binzhou, Shandong, to serving over 120 countries, the Zhangs’ 44-year journey epitomizes China’s manufacturing rise.
Zhang Shiping, the late founder, laid the groundwork for this empire. Rising from humble beginnings, he seized policy and industry cycles, expanding the industrial chain to establish a Fortune 500 company by 2012. His son, Zhang Bo, inherited this industrial legacy while embracing modernization, driving global expansion and capital operations. Today, Zhang Bo oversees Weiqiao Group’s aluminum and textile businesses, including
Currently, Zhang Bo is executing a 63.5 billion yuan capital restructuring to consolidate internal resources and reinforce Weiqiao’s global aluminum dominance.
**The Rise of a Dual Empire** Zhang Shiping, the patriarch, founded Weiqiao Group. Despite passing six years ago, his influence endures. In 2016, Fortune ranked him third among China’s most influential business leaders, ahead of Jack Ma.
Zhang Shiping’s achievements were extraordinary. Born in 1946 in Zouping, Shandong, he joined a local cotton oil factory at 18, working his way up from laborer to deputy director. In 1981, he took over the failing factory, implementing reforms that turned it profitable within a year.
Facing cotton market saturation in 1985, Zhang diversified into textiles, building spinning and weaving mills. By 1995, Weiqiao became Shandong’s largest textile producer. During the 1997 Asian financial crisis, he expanded aggressively, turning Weiqiao into the world’s top cotton textile firm within a decade.
In 2001, Zhang ventured into aluminum, leveraging self-built power plants to overcome electricity shortages. By 2014, Weiqiao’s aluminum output surpassed Russia’s Rusal, making it the global leader.
**Next-Gen Innovation: The "New Weiqiao"** After Zhang Shiping’s death in 2019, his children—Zhang Bo, Zhang Hongxia, and Zhang Yanhong—took the reins, with Zhang Bo at the helm.
Facing environmental scrutiny in 2017, Zhang Bo relocated nearly 4 million tons of aluminum capacity from Shandong to Yunnan, leveraging hydropower to cut costs. This bold move solidified Weiqiao’s competitive edge.
Beyond traditional industries, Zhang Bo entered the EV sector, investing in brands like Ji Shi Auto and DeepWay. His vision: extend Weiqiao’s aluminum supply chain from raw materials to auto manufacturing.
**Capital Moves and Challenges**
In 2024, Zhang privatized Weiqiao Textile, citing limited financing benefits. In 2025, he announced a 63.5 billion yuan deal to inject undervalued Hongtu Industrial assets into
**Keys to Success: Speed, Scale, and Cost Control** Zhang Shiping’s mantra—“fast, high, low”—remains central. Fast execution, high-value capacity upgrades, and low-cost operations define Weiqiao’s strategy. Zhang Bo continues this approach, aligning with green policies.
Despite success, challenges loom. Heavy industries face environmental scrutiny, cyclical risks, and nascent EV competition. Yet, the Zhang family’s focus on core industries and strategic foresight keeps Weiqiao on a growth trajectory, eyeing trillion-yuan revenue milestones.
The question remains: Can this industrial giant sustain its momentum and write new legends?