Ministry issues plans for higher quality steel and foreign equity

Foreign companies will be encouraged to participate in the reorganization of Chinese steel companies, under a plan to boost product quality released by the Ministry of Industry and Information Technology.

The development plan of iron and steel (2016-20) says that Chinese steel companies must be further internationalized through equity sharing and investment, to improve product quality and management.

Chinese steel companies will be encouraged to build production and processing bases in key markets for the Belt and Road Initiative that have good natural resources and market potential, and are also home to high-speed train and power projects. Foreign companies are invited to join the process to undertake projects in countries along the Belt and Road.