China metal tycoon who built two empires faces Xi's new era
Supply-side structural reforms are reshaping basic industries like steel and aluminium and tycoon Zhang has to oblige
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Shanghai
ZHANG Shiping may have won an epic victory against short-sellers, but the self-made billionaire faces a much more formidable player in the battle surrounding the world's biggest aluminium producer: China's President Xi Jinping.
China Hongqiao Group Ltd resumed trading in Hong Kong on Monday, ending a seven-month hiatus during which Mr Zhang contested a research report that questioned his group's famously low costs. The aluminium giant's shares jumped 32 per cent in a day, clawing back ground lost to industry peers that have benefited from rising metal prices. Among the buyers was Mr Zhang himself.
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