Chinese Steel Giant Eyes Auto Industry

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Last updated at: (Beijing Time) Friday, February 14, 2003

Chinese Steel Giant Eyes Auto Industry

China's biggest steel producer, the Baoshan Iron & Steel Co., Ltd. in the country's east Shanghai City, will make more steel sheets for automobiles in 2003.

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China's biggest steel producer, the Baoshan Iron & Steel Co., Ltd. in the country's east Shanghai City, will make more steel sheets for automobiles in 2003.

Xie Qihua, chairwoman of the board of directors of Baoshan, said Thursday that the company plans to raise the sales of auto sheets to 1.3 million tons in 2003, up from 1.23 million tons lastyear.

Xie said that auto sheets are a strategic product of the company, which seeks to establish a long-term strategic partnership with clients in the automotive industry, including topworld automakers.

Baoshan is currently the sole Chinese steel maker that supplieslarge quantities of auto sheets of various sorts, accounting for 51 percent of total steel consumption in domestic car production in 2002.

The company has received quality certification of steel consumption for the Audi A6 sedan, a model of FAW-Volkswagen Automobile Co., Ltd. based in Changchun, northeast China's Jilin Province.

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