Lu Zuofu implemented ethical management in Minsheng Corporation, took the realization of the overall modernization of China as the ethical objective of his company by making ethical decision for his company from the angle of serving the society and meanwhile by emphasizing the cultivation of the morality of his employees. Lu Zuofu, as the company manager, made himself an example and sticked to ethical leadship, which played a model role in the ethical selection of his employees. The ethical management of Lu Zuofu made Minsheng Corporation have ethical advantage with unique characteristcs, which were further transformed into competitive advantage to forcefully ensure Minsheng Corporation to become the largest shipping group with Chinese private capital in modern China.