F ang Wei is a Chinese industrial magnate and the chairman of Fangda Group, a diversified conglomerate with its core businesses in carbon products, steel, and chemicals. He is known for his skill in acquiring and turning around struggling state-owned enterprises (SOEs), a strategy that has allowed him to build a massive industrial empire.

He started his career in the scrap metal business before moving into heavy industry. He has acquired a number of large but underperforming state-owned steel mills and carbon producers and has implemented restructuring programs to make them profitable. His company, Fangda Carbon New Material, is one of the largest producers of graphite electrodes, a critical component used in electric arc furnace steelmaking. He is a powerful but low-profile figure in China's heavy industry sector.