Baosteel plans to improve in the next couple of years
Chinese Shanghai based steelmaker
Baosteel has boosted its e-commerce this year, with a trade volume of RMB 1.3 billion (approx. $167 million) in the first four months of this year. This volume is 52% higher compared to the same period of last year.
It is obviously enhancing the
trading of
Baosteel companies with eliminating time
consumption. E-commerce also helps to reduce costs and increases efficiency. The companies using e-commerce applications are Baoshan Iron and Steel Co. Ltd., Shanghai
Baosteel Yichang Steel Sheet Co. Ltd., and
Baosteel International.
Meanwhile
Baosteel aims to join the world's top 500 companies by the year 2005 by increasing its annual sales to RMB 120 billion ($14.5 billion) and achieving access to international markets by 2010.
Baosteel plans include to turn into a multi-national corporation, preserving steel
production as its core business however at the same time diversifying into related fields.