When China opened its steel industry to foreign investment in July, Alexandre Fontenil-Richon decided to take a look upstream to grasp the impact of Chinese steel on the fastener industry.
The sprout of Chinese steel mills between 2000 and 2014 increased the country’s output by 84%. Granting the land of Taoism the ability to count for half of the steel produced globally (50.31% in 2015), yet mainly for basic steel products.
Therefore, Chinese Government on its 13Th Five Year Plan is committed to boosting the worth of its manufactured products. Including its steel production, by allowing steels mills to be wholly-owned by foreign capitals. Limitations?
- Be located in Free-Trade Zones
- Bring own manufacturing technology