Zhang Shiping’s family owns one of the world’s largest aluminium producer, the China Hongqiao Group, based in Binzhou, Shandong Province. Zhang Shiping established the company as Shandong Hongqiao in 1994, and he acted as CEO until his death in 2019.
Zhang Shiping led the company to become the world’s largest cotton-yarn and denim producer. In 2006, they shifted focus to aluminium production. His daughter, Zhang Hongxia, still controls the cotton and denim production, now named Weiqiao Textile Co.
Zhang Shiping’s wife, Zheng Shuliang, acts as vice-chairperson for the China Hongqiao Group, and his two other children, Zhang Yanghong and Zhang Bo, both sit on the board.
Before his death, Zhang Shiping’s net worth was listed as $4.7 billion. Zhang Bo took over as CEO of China Hongqiao Group in 2019. He dismissed numerous criticisms regarding over-capacities and failure to comply with appropriate governmental environmental regulations.
In 2012, the company announced a new, non-coal power method. Later that year, however, images were released of the company’s property showing toxic waste leakage of toxic waste. The images disproved the company’s claim of switching to coal ash for power and confirming the use of bauxite.
In 2019, the company announced additional manufacturing plants for Shandong province. In an effort to alleviate the significant environmental impact the existing plants have had on the Binzhou community, the company will relocate 2 million tonnes of capacity to Wenshan.
