On the afternoon of July 29, the Information Office of the Hebei Provincial People's Government held a press conference on the development of Hebei's industrial economy for the first half of 2025.
In particular, for the steel industry in Hebei, in the January-June period this year falling raw material prices boosted profits per metric ton of steel and so local steel companies were highly motivated to produce. The steel industry's industrial added value grew by 13.7 percent in the given period.
Shi Qingjiang, director of the Operations Monitoring and Coordination Bureau, Hebei Provincial Department of Industry and Information Technology, when answering questions from reporters, stated that Hebei Province promoted the shared procurement of raw materials and has built a supply chain platform for the steel industry. By utilizing the platform, the steel industry cluster and steel enterprises could accurately match their needs, and carry out joint procurement of raw materials, including fasteners, welding materials, silicon manganese alloys, and iron ore. The total transaction volume of the supply chain platform amounted to RMB 280 million ($39 million) since its establishment in April this year, with a comprehensive cost reduction of more than 10 percent.