Shougang Group

Shougang Group Co., Ltd., formerly Shougang Corporation is a Chinese state-owned steel company. Based in Beijing, its Shijingshan district operations were moved out of the city prior to the Olympics due to concerns over pollution.[1][2]

This article is about the holding company of the group. For the listed subsidiary, see Beijing Shougang Co., Ltd.
Shougang Group Co., Ltd.
FormerlyShougang Corporation
TypeState-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., Shougang Tonghua (Jilin)
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 China Hong Kong, Shougang Concord International (SEHK: 697), Shougang Concord Century (SEHK: 103), and Shougang Concord Grand (SEHK: 730) .[3]

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 publications also use Capital Iron and Steel Corporation as the translation of the name.[4]

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 in 1949. 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.

The Shijingshan steel mill was shut down in 2011, thus becoming Shougang Park.[5] Big Air Shougang, one of the venues of 2022 Winter Olympics, is built inside the former factory in 2019.[6]

Foreign operations

The company has current operations in the pacific coast of Southern Perú and is known as Shougang Hierro Perú. It operates the Marcona Mine in the Marcona District, an open-pit iron mine acquired in 1992. There have been continuing labor troubles.[7][8]

Sponsorship

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

References
  1. Martin, Greg. "BEIJING'S FORMER INDUSTRIAL COMPLEX SHOUGANG DISTRICT SEES SUSTAINABLE URBAN REGENERATION PUSH". Olympic.org. Retrieved 24 January 2021.
  2. Beijing steel plant to relocate
  3. SHOUGANG GROUP TO RESTRUCTURE HK-LISTED SUBSIDIARIES
  4. 黎晨 [Li Chen] (2015). China's Centralized Industrial Order. Abingdon-on-Thames: Routledge. ISBN 9781317910558.
  5. "91年北京首钢老厂区停产 张德江：应做新起点". China News Service. 2011-01-13. Archived from the original on 2021-07-23. Retrieved 2021-01-05.
  6. "北京冬奥会比赛场馆首钢滑雪大跳台建设完成". Xinhua News Agency. 2019-11-01. Retrieved 2021-01-06.
  7. "Tensions Over Chinese Mining Venture in Peru" article by Simon Romero in The New York Times August 14, 2010, accessed August 14, 2010
  8. Info portal at InfoMine.Com
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