Baosteel 'to benefit from Shanghai FTZ'
Updated: 2013-08-27 16:31
By Wang Ying in Shanghai (chinadaily.com.cn)
|
|||||||||||
Baoshan Iron and Steel Co Ltd, one of the nation's largest steelmakers, will benefit from Shanghai's free trade zone, sources said.
"Shanghai's free trade zone will bring opportunities for Baosteel, especially in raw materials, investment, finance and steel sales," He Wenbo, chairman of the steelmaker, said during an online interim report briefing.
He also said the company had no plans to list overseas, but will not rule out the possibility.
There are three key factors in deciding whether to list overseas: large capital demand, proper timing and an acceptable share price for A-share investors, he added.
The Shanghai-based steelmill reported 3.7 billion yuan ($604 million) net profit in the first half, down 61 percent year-on-year. Last year's figures were boosted by the sale of its stainless steel and special steel sectors.
Related Stories
Baosteel cuts steel products prices 2013-05-10 17:34
Baosteel sees e-commerce platform as new growth driver 2013-05-02 16:23
Baosteel reports solid profit in Q1 2013-04-26 14:15
Baosteel to construct new branch in Zhanjiang 2013-04-25 15:18
Baosteel leads steel industry with 41% profit surge 2013-04-01 17:04
Today's Top News
Foreigners nabbed for personal info trafficking
Caution urged in online reporting of violence
Group renting debate revived by boy's death
Public mixed over changes to train ticket returns
Concerns of growth at cost of environment
Scientists want stricter control of bird markets
Metro offers passengers books to borrow
Beijing seeks to cement relations with Singapore
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Laws needed for animal protection |
Universities seek more enrollment from abroad |
Public opposition defuses nuke plans |
Summer Guide Special |
New study reveals corruption pattern |
Righting the wrongs of patent rights |