Dai Guofang, chairman of Jiangsu Tieben Iron and Steel Co., Ltd., from an ordinary bricklayer to the China 400 Rich List, Dai Guofang participated in the construction team and used a small electric furnace to make steel. During the steelmaking period, Dai Guofang successively contracted and leased some workshops of six state-owned iron and steel enterprises on the verge of bankruptcy. 1996, Dai Guofang registered Jiangsu tieben iron and steel co., ltd in Changzhou. In June 2008, he was released on bail pending trial. On July 20 10, Dai Guofang registered and established Jiangsu Delong Nickel Industry Co., Ltd. in Xiangshui Coastal Economic Development Zone.