Chinese steel giant Hebei Iron and Steel Group (HBIS) has announced that it has inked a strategic cooperation agreement with Chinese state-owned China Minmetals Corporation (CMC) within the scope of China's One Belt, One Road initiative.
According to the agreement, HBIS and CMC will cooperate in steelmaking, overseas marketing, industry transformation and upgrading, strengthening joint development of overseas resources and promoting international business management to take advantage of opportunities offered by China's One Belt, One Road strategy.