At the beginning of reform and opening up in the late 1970s, Shougang began to try to develop its international business. On May 22nd, 1992, Comrade Deng Xiaoping returned to Beijing to visit Shougang, opening a new chapter in the Group’s international business! In October 1992, Shougang established Shougang Holding (Hong Kong) Limited in Hong Kong, and successively merged with and acquired four listed companies. In December of the same year, Shougang acquired the permanent mining, exploration and management rights of the Peru Iron Mine Company and its 670 km2 mining area, which became the initial stage of the Group’s overseas strategic layout. With nearly 30 years of exploring and developing transnational operations, the Shougang Group has used its international market compliance thinking, taken advantage of overseas resources, opened cross-border information channels, implemented hierarchical and classified management for overseas enterprises, optimized and flexibly applied cross-border information and capital circulation channels, built an overseas management and control system with coordinated operation and effective checks and balances, and become a large-scale enterprise group with international influence.
At present, the Shougang Group has more than 70 overseas wholly-owned and controlled subsidiaries distributed in nearly 20 countries and regions such as Peru, Austria, Singapore and Hong Kong, China, involving mineral resource development, import and export trade, overseas project construction, financial leasing, urban comprehensive services, automobile parts manufacturing and other business fields. The total assets of Shougang’s overseas enterprises have exceeded RMB 50 billion.