Recently, subsidiaries union in Hong Kong of Sinosteel Corporation and other 22 steel production enterprises and trading companies was established in Hong Kong. By recommendation, Sinosteel Corporation becomes 2006 subsidiaries union in Hong Kong chairman of the steel companies. Located in Hong Kong, Sinosteel International Holding Company Ltd. is the major stage of Sinosteel promoting internationalized operation strategy and the wholly invested subsidiary for Sinosteel to operate and manage overseas business and overseas assets. Based in Hong Kong, back the chinese mainland and face the world, relying on Sinosteel solid strength in mineral resource development, trade & logistics and engineering project and science & technology and comprehensive auxiliary service and the regional advantages of Hong Kong in finance, information, management, product trade and logistics, Sinosteel International vigorously promotes the core businesses and core products international operation, optimizes Sinosteel overseas assets structure and global operating system, participates in Sinosteel overseas resource development and project investment both at home and abroad, increases operating capital, carries out third-country trade, implements effective supervision and management on the overall Sinosteel overseas business and capital operation, gradually develop Sinosteel’s global operation center, international investing center and international financing center and constantly improve the comprehensive strength and overall competence.
Ever since the Reform and Opening Up, over 20 subsidiaries of steel production enterprises and trading companies located in Hong Kong has been established, contributing to the regional economic prosperity and the development of steel industry. The establishment of subsidiaries union in Hong Kong of steel enterprises aims at uniting the subsidiaries of various companies in Hong Kong, fully utilizing the regional international trading and financial advantages in steel products, iron ore and shipping and promoting the long-term development of our steel industry in international trade.