Zheng Shuliang
Chinese businesswoman; widow of the China Hongqiao founder Zhang Shiping and former vice-chair of the aluminium producer
| Zheng Shuliang
| |
|---|---|
| Born | 1946 (Forbes) |
| Nationality | Chinese |
| Residence | Binzhou, China (Forbes) |
| Occupation | Businesswoman |
| Known for | Former vice-chair of China Hongqiao Group; widow of Zhang Shiping |
| Spouse(s) | Zhang Shiping (died 2019) |
| Children | 3 (Forbes), including Zhang Bo and Zhang Hongxia |
Zheng Shuliang (born 1946) is a Chinese businesswoman and the widow of Zhang Shiping, founder of China Hongqiao Group, one of China's largest aluminium producers.[1] She was an executive director and vice-chair of the Hong Kong-listed company until 19 May 2026, when she retired from the board, citing her age.[2][3] Her son Zhang Bo chairs China Hongqiao and is its chief executive.[3] Forbes counts the fortune as a family entry. On 20 October 2026 the Forbes Real-Time Billionaires list ranked Zheng Shuliang & family 117th in the world, with an estimated net worth of US$22.57 billion; Forbes lists the source of wealth as Aluminum products.[1][4] In the annual World's Billionaires list published in 2026, Forbes had ranked Zheng Shuliang 63rd, at US$33.2 billion.[5] The company's controlling stake, 61.49% at the end of 2025, is held through a family trust structure. Company filings attribute that stake to her children rather than to her.[3]
Family and background
Forbes gives her year of birth as 1946, describes her as widowed with three children, and classes the fortune as "inherited and growing".[1] Her husband Zhang Shiping, chairman and an executive director of China Hongqiao, died on 23 May 2019 at the age of 73.[6][7] China Hongqiao's 2025 results describe her as the mother of chairman Zhang Bo and mother-in-law of non-executive director Yang Congsen.[3] Forbes says their daughter Zhang Hongxia chairs the textile maker Weiqiao Textile, which was taken private from the Hong Kong Stock Exchange in 2024.[1]
China Hongqiao Group
China Hongqiao is incorporated in the Cayman Islands and listed in Hong Kong. It describes an integrated chain covering bauxite mining, alumina production, primary aluminium smelting, processing and recycling, with principal operations in mainland China, Hong Kong and Indonesia.[3] For 2025 it reported revenue of about RMB162.35 billion and net profit attributable to shareholders of about RMB22.64 billion, and employed 51,234 people at year-end.[3] Forbes says Zhang Shiping built it into a multibillion-dollar business during the reform era that Deng Xiaoping began.[1]
Zheng was listed as vice-chair in the company's 2019 interim report. After her husband's death the board elected Zhang Bo chairman on 31 May 2019, while he remained chief executive.[6] She retired as an executive director at the end of the annual general meeting on 19 May 2026, citing her age. She also left the board's sustainability committee and confirmed she had no disagreement with the board.[2]
Ownership
According to the 2025 annual results, Shiping Prosperity Private Trust Company, as trustee, owns all of China Hongqiao Holdings, which held 6,107,567,100 shares (61.49%) at 31 December 2025. The trust's settlor, protector and one of its beneficiaries is Shiping Global Holding Company. Zhang Bo, Zhang Hongxia and Zhang Yanhong own 40%, 30% and 30% of Shiping Global and act in concert.[3] Zheng is not named as a holder in that disclosure.[3]
Wealth
Forbes lists aluminium products as the family's source of wealth.[1]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 7 of the editions from 2001 to 2026 checked for this profile, starting with 2020. The table gives the rank and estimated net worth in each annual list.[5][1]
| Year | World's Billionaires rank | Net worth (US$ bn) |
|---|---|---|
| 2020 | 712 | 2.9 |
| 2021 | 288 | 8.6 |
| 2022 | 218 | 9.4 |
| 2023 | 242 | 8.4 |
| 2024 | 322 | 8.0 |
| 2025 | 138 | 15.4 |
| 2026 | 63 | 33.2 |
Philanthropy
No philanthropic activity in Zheng's own name was found in the sources checked.
Political activity
No political offices, memberships or donations in Zheng's name were found in the sources checked.
Controversies and legal issues
In February 2017 the research firm Emerson Analytics published a report alleging that China Hongqiao had under-reported its costs. The company called the allegations untrue and groundless, and its shares were suspended from trading on 1 March 2017.[8] Its auditor, Ernst & Young, asked for an independent investigation into its audit findings and into the allegations, and the 2016 annual results could not be published by 31 March 2017.[8] The Paper reported that the company did not commission the independent investigation, that Ernst & Young resigned on 27 April 2017, and that 天职香港会计师事务所 [Tianzhi Hong Kong CPA], a member of the 天职国际 network, was appointed as auditor. It said Emerson had alleged that some RMB21.6 billion of costs had been hidden.[9] Zheng was a director of the company at the time; the sources do not attribute any role in the dispute to her personally.
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
No documented involvement found in sources checked.
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
China Hongqiao's principal operations are in mainland China.[3]
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
No documented involvement found in sources checked.
Other international links
Company level: China Hongqiao has subsidiaries in Indonesia, Singapore and Guinea. It has guaranteed up to US$1.78 billion of its associates' funding obligations for the Simandou iron-ore project in Guinea, including through the Winning Consortium.[3]
See also
External links
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Forbes, Forbes profile record for Zheng Shuliang & family (Forbes data feed behind forbes.com/profile/zheng-shuliang/) Forbes, live record, read 21 October 2026, accessed 21 October 2026.
- ↑ 2.0 2.1 China Hongqiao Group Limited, Announcement: poll results for the annual general meeting held on 19 May 2026, change in members of the board and changes in members of the board committees HKEXnews (Hong Kong Exchanges and Clearing), 19 May 2026, accessed 21 October 2026.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 China Hongqiao Group Limited, Annual results for the year ended 31 December 2025 (announcement) HKEXnews (Hong Kong Exchanges and Clearing), 20 March 2026, accessed 21 October 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 20 October 2026 11:51 UTC, accessed 21 October 2026.
- ↑ 5.0 5.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 21 October 2026.
- ↑ 6.0 6.1 China Hongqiao Group Limited, Interim Report 2019 HKEXnews (Hong Kong Exchanges and Clearing), 19 September 2019, accessed 21 October 2026.
- ↑ Zhang Zhanxiong (张展雄), 中国宏桥(01378)执董兼主席张士平于5月23日离世 享年73岁 (China Hongqiao executive director and chairman Zhang Shiping died on 23 May, aged 73) Zhitong Caijing (智通财经), 23 May 2019, accessed 21 October 2026.
- ↑ 8.0 8.1 China Hongqiao Group Limited, Announcement in relation to the 2017 Negative Report, the auditor’s letters and delay in publication of 2016 annual results HKEXnews (Hong Kong Exchanges and Clearing), 2 April 2017, accessed 21 October 2026.
- ↑ He Liping (贺梨萍), 被指财务造假后年报难产，全球最大电解铝企中国宏桥换审计师 (Annual report delayed after accounting fraud allegations, world’s largest electrolytic aluminium maker China Hongqiao changes auditor) The Paper (澎湃新闻), 29 April 2017, accessed 21 October 2026.