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15 July 2015

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Secretary Du Jiahao Inspects Valin Steel Group

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On August 30, CPC Hunan Provincial Committee Secretary and Hunan Provincial Congress Standing Committee Director Du Jiahao visited Hunan Valin Steel Group and convened a meeting to inspect corporate reform and development.

Secretary Du called for fully implementing the principles from General Secretary Xi Jinping’s major addresses on state-owned enterprise (SOE) reforms and Party building. He stressed, "Valin Steel should firmly promote iron and steel business, deepen SOE reforms, and strengthen Party leadership, to be a leader among SOEs supporting Hunan real economic growth."

The Group’s steel output between January and July is 11.12 million tons, generating a revenue of 68 billion yuan and a profit of more than 2 billion yuan. Heads from Valin Steel, Hengyang, Xiangtan, Loudi, and relevant departments attended the meeting. They reported and introduced future development plans focusing on deleveraging, reducing costs, and cleaning up zombie enterprises. Secretary Du said, "Companies, local governments, and relevant departments should work together to promote enterprise transformation and upgrading."

Provincial leaders Xie Jianhui and Zhang Jianfei accompanied Du on the tour.

Please refer to www.enghunan.gov.cn when using the article.

Translator: Xiao Juan

Chinese source: hn.xinhuanet.com