October 16, HBIS Chairman Yu Yong attended the 57th World Steel Association Annual Conference and Outlook Forum in Shanghai and had discussions with BlueScope Steel Chairman and CEO Mark Vassella, JSW Deputy Director Aayant Acharya, ASEAN Steel Commission Secretary General Wee Jin YEOH in the future development of steel industry and outlook of markets. World Steel Secretary General Edwin Basson hosted the forum.

Yu Yong said the growth rate of Chinese economy and，Chinese market still the world No.1 steel consumption showed that Chinese steel industry was operating very well. In high quality development phase, from the original volume growth, Chinese economy is shifting to optimization of exist capabilities to improve the quality of the economy and economic structure. It is the most challenging to all communities to cope with the changes during the reform. Chinese steel industry need accommodate the new development cycle and find new ways to grow, reform to material production, from structural materials to functional materials.

Yu Yong said the development of World steel industry was giving Chinese steel industry a valuable example for future development. Technology and innovation are key to higher competitiveness. China produces more than 50% of global steel and in future, Chinese steel industry will continue to improve, from quantitative to qualitative and deliver high quality and innovative products to meet diversified demands. HBIS will learn from first class enterprises and pay more attention on technologies, innovation. HBIS will improve its production organization to meet client diversified, small volume and personalized demands.