You are here

Former teenage soldier hatches millions from Chinese egg futures

His huge, quick earnings highlight vulnerability of China's nascent futures markets to a destabilising rout
Monday, August 3, 2015 - 05:50
BT_20150803_KVEGG3_1804929.jpg
Mr Zhang says he has outgrown egg futures, having made - and lost - more money playing other markets. He says he now trades in steel rebar and iron ore futures, again using leverage, adding that he aims "to have the hedge fund with the highest return in the world, with capital of around 100 billion yuan".

Shanghai

A DECADE ago, Zhang Xiongjie was a teenage infantryman patrolling China's bleak border with North Korea.

Now he stays in swanky hotels and drives a Mercedes Benz CLS - a remarkable rags-to-riches journey achieved in part by dominating one of the most obscure corners of