W eng Xianding is a Chinese billionaire whose wealth is derived from his family's stake in the Fushun Special Steel company. He and his family gained control of the formerly state-owned enterprise, which is a major domestic producer of specialty steel products. These high-grade steel alloys are used in demanding applications, including in the aerospace, defense, and high-end manufacturing industries.

The family's control of this key industrial asset is the source of their considerable fortune. The company is a key supplier to China's growing aerospace and defense sectors, which has been a major driver of its business. Weng's career is an example of the wealth that has been created by private entrepreneurs who have successfully taken over and developed former state-owned industrial assets in China.