SteelOrbis Shanghai
At the recent conference celebrating the 30th anniversary of Baosteel Group, president of the group Xu Lejiang revealed the development strategy and target of the company for the next ten years: to further participate in the integration and restructuring within the domestic steel industry, and to strive for the overall listing of the group companies.
Firstly, Mr Xu said they would take an active part in the takeover and integration of domestic steel companies in line with the restructuring of its two subsidiaries, Bayi Steel Iron and Steel as well as Guangdong Iron and Steel. In addition, they are to focus on boosting the development of downstream industries. Secondly, the group will endeavor to achieve the overall listing of the group companies by optimizing the structure of its subsidiaries, and thus increasing their effectiveness in the international capital market. Furthermore, Baosteel will try to enhance its overall technological innovation capacity and develop a few significant proprietary technologies, thereby contributing to the improvement of China's steelmaking technology. Also, the group will promote interactive development between its primary and diversified businesses. Finally, Baosteel will aim to build up an overall resource-conserving and eco-friendly enterprise.
From December 1978 up to the present, Baosteel has produced a total of 228 million mt of pig iron, 272 million mt of crude steel and 229 million mt of finished steel. Meanwhile, the company has recorded total sales revenues of RMB 1.33 trillion ($195 billion) and total profits of RMB 154.5 billion ($22.6 billion). On the export side, exports of semi-finished products and finished steel products have reached more than 30 million mt, bringing in a total of $16 billion in revenues.