Leveraging their capital and technological strengths, Chinese steel enterprises have begun shifting production to countries along the "Belt and Road" initiative to tap into new markets. Examples include the Philippines, where Panhua Group is investing in a comprehensive steel plant with a 10-million-tonne capacity and HBIS Group is building a plant with an annual capacity of 8 million tonnes; Indonesia, where Tsingshan Group is constructing a 3-million-tonne capacity plant and Delong Group is developing a 20-million-tonne steel project; and Malaysia, where Xinwu'an Steel is building a large-scale, modern steel enterprise with a 10-million-tonne capacity, Jianlong Group has acquired and upgraded the "Donggang" project, and Shenglong Metallurgy has invested in a combined steel production base with an annual capacity of 3.5 million tonnes. Additionally, in Cambodia, Baowu Group plans to relocate production capacity from Xinjiang, aiming for a total annual capacity of 3.1 million tonnes.
Several major domestic steel production bases have been established, including those operated by Ansteel Group (Anshan, Bayuquan), Baosteel (Shanghai, Wuhan, Zhanjiang), HBIS Group, Shougang Jingtang, Shagang Group, Ma'anshan Iron & Steel (Magang), Baotou Steel (Baogang), Jiuquan Steel (Jiugang), Taiyuan Iron & Steel (Taigang), and Panzhihua Iron & Steel (Pangang).
Certain provinces have also set clear development goals for the metallurgical industry. For instance, Hubei Province is accelerating the construction of a world-class, low-carbon metallurgical industrial base, aiming for operating revenue to exceed 500 billion yuan by 2025; Hunan Province plans for its metallurgical industry to achieve main business revenue of over 300 billion yuan by 2025. Tianjin has also designated the modern metallurgical industry as a key area for development, promoting the sector's transition toward green and high-end operations.
