Shougang Group

Shougang Group Co., Ltd., formerly Shougang Corporation is a Chinese state-owned steel company. Based in Beijing, its operations have been moved out of the city prior to the Olympics due to concerns over pollution.[1]

This article is about the holding company of the group. For the listed subsidiary, see Beijing Shougang Co., Ltd.
Shougang Group Co., Ltd.
Formerly
Shougang Corporation
State-owned enterprise
IndustrySteel manufacturing, investment
Founded1919
FounderLongyan Iron Mine Limited
Headquarters
Beijing
,
China
Area served
China
Key people
Zhu Jimin (Chairman and Party Committee Secretary)
OwnerGovernment of Beijing (79.40%)
ParentState-owned Assets Supervision and Administration Commission of the Government of Beijing
SubsidiariesBeijing Shougang Co., Ltd.
Chinese name
Simplified Chinese首钢集团有限公司
former name
Simplified Chinese首钢总公司
Traditional Chinese首鋼總公司
Websitewww.shougang.com.cn

Its subsidiary and listed company, Beijing Shougang Co., Ltd. (SZSE: 000959), was established in 1999 and listed on the Shenzhen Stock Exchange in 2005. It also has 3 other subsidiaries listed on the Stock Exchange of Hong Kong, Shougang Concord International (SEHK: 697), Shougang Concord Century (SEHK: 103), and Shougang Concord Grand (SEHK: 730) .[2]

The word "Shougang" (Chinese: 首钢) is an abbreviation of its Chinese name (Chinese: 首都钢铁公司; pinyin: Shǒudū gāngtiě gōngsī; lit.: 'Capital Steel and Iron Corporation'), meaning "Capital Steel". Some publication also use Capital Iron and Steel Corporation as the transliteration.[3]

History

The predecessor of Shougang, Shijingshan Steel Plant, was founded in 1919 in Shijingshan District, with accelerated growth since the founding of People's Republic of China. Shougang focuses its business mainly on steel industry, the corporation also runs on mining, machinery and equipment development, electronics, building, real estate, and related services, in addition, they also developed business with overseas companies in order to form Shougang as a leading multi-diverse corporation.

Products and services

Shougang finished applications for 52 patents and get national authority patents. The company is good developing superior products. Their products are dominated almost one thirds of Chinese market within steeling industry.

Shougang provides other services include technology consulting involved mining, architecture, real estate, city council and environment. In addition, the company designs for engineering projects, supervising and provides relevant equipment.

Shougang has more than fifty years experience in building and construction industry. The company specializes in steel structure installation, industrial equipment inspection, concrete-made products sales services. The company also provides rental for equipment, construction materials development and sales. Shougang is rewarded for fourteen Chinese national awards for high-quality construction projects.

Foreign operations

The company has current operations in the pacific coast of Southern Peru and is known as Shougang Hierro Peru. It operates the Marcona Mine in the Marcona District, an open-pit iron mine acquired in 1992. There have been continuing labor troubles.[4][5]

Sponsorship

The group was a sponsor of a football team and a basketball team.

References
  1. Beijing steel plant to relocate
  2. SHOUGANG GROUP TO RESTRUCTURE HK-LISTED SUBSIDIARIES
  3. 黎晨 [Li Chen] (2015). China's Centralized Industrial Order. Abingdon-on-Thames: Routledge.
  4. "Tensions Over Chinese Mining Venture in Peru" article by Simon Romero in The New York Times August 14, 2010, accessed August 14, 2010
  5. Info portal at InfoMine.Com
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