Age, Biography and Wiki

Xiang Guangda was born on 1958 in Wenzhou, Zhejiang, China. Discover Xiang Guangda's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 65 years old?

Popular As N/A
Occupation N/A
Age 65 years old
Zodiac Sign
Born 1958
Birthday 1958
Birthplace Wenzhou, Zhejiang, China
Nationality China

We recommend you to check the complete list of Famous People born on 1958. He is a member of famous with the age 65 years old group.

Xiang Guangda Height, Weight & Measurements

At 65 years old, Xiang Guangda height not available right now. We will update Xiang Guangda's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
Sibling Not Available
Children Not Available

Xiang Guangda Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Xiang Guangda worth at the age of 65 years old? Xiang Guangda’s income source is mostly from being a successful . He is from China. We have estimated Xiang Guangda's net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income

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Timeline

2022

In the several months leading to March 2022, Xiang began taking a large short position in nickel through Tsingshan, in order to hedge against falling prices. Due to a rise in nickel prices caused by the Russian invasion of Ukraine, however, Xiang was forced to purchase nickel contracts at the London Metal Exchange, creating a short squeeze. The price of nickel at the exchange increased by more than 100 percent, reaching over USD 100,000 per tonne before trading was suspended. By the time trading had been suspended, Tsingshan had suffered USD 10 billion in losses on paper. However, the Hong Kong-owned LME resorted to retroactively reverse tradings that had already happened, and after prices stabilized and trading was resumed, Xiangs' losses were marked as significantly lower, sparking claims of trading manipulation by the exchange in order to favor Xiang Guangda, which the LME denied.

2000

Under Xiang, Tsingshan began to invest in nickel mines in Indonesia during the 2000s, when reserves were still unproven. Tsingshan established nickel and stainless steel production complexes in Sulawesi (the Morowali Industrial Park), which further lowered the production cost for stainless steel. Tsingshan also established production plants in India and Zimbabwe. Although in the mid-2000s Tsingshan was one of several stainless steel manufacturers in Wenzhou, by 2021 it accounted for nearly one-fourth of the global output, being by far the largest in the industry. Xiang's net worth is estimated by Forbes in 2021 as USD 1.2 billion.

1988

He left his job at the state-owned firm in 1988 to become a full-time entrepreneur, raising the equivalent of around USD 100,000 from friends and relatives to fund their business. According to Xiang in an interview, he pivoted to manufacturing stainless steel after a 1992 trip to Germany which convinced him that his car parts manufacturing would not be sustainable in the long term. His firm was renamed to Tsingshan in 1998, and the company grew quickly due to its focus on bringing down costs. The firm pioneered the use of cheaper nickel pig iron in place of metallic nickel in its stainless steel production, and implemented the use of the rotary kiln furnace for continuous production.

1958

Xiang Guangda (Chinese: 项光达; pinyin: Xiàng guāngdá; born 1958) is a Chinese industrialist. He is the founder of the Tsingshan Holding Group, a metallurgical company primarily engaged in the manufacturing of stainless steel.

Xiang was born on 1958 to a working class family in Wenzhou, Zhejiang. He got his first job in 1980 as a mechanic in a state-run fishery company under Deng Xiaoping's iron rice bowl employment program, and was eventually promoted to director of the company's workshop. In 1986, he and his relatives established a workshop manufacturing car windows and doors.