Wed,Feb23, 2011
BY CHUIN-WEI YAP
BEIJING—China plans an aggressive expansion of its iron-ore holdings overseas to increase the share of its imports from China-invested mines, an influential industry official said Wednesday.
China Iron & Steel Association Vice Chairman Luo Bingsheng told an industry conference Wednesday that China would seek to derive 40% of ore imports from Chinese-invested sources by 2015.
It is unclear what percentage of China's iron-ore imports currently come from mines part-owned by Chinese companies. Mr. Luo didn't give a figure. But the comments from Mr. Luo, who is to retire from the association this week, underscore the desire of China.
For more info asia.WSJ.COM
China Iron & Steel Association Vice Chairman Luo Bingsheng told an industry conference Wednesday that China would seek to derive 40% of ore imports from Chinese-invested sources by 2015.
It is unclear what percentage of China's iron-ore imports currently come from mines part-owned by Chinese companies. Mr. Luo didn't give a figure. But the comments from Mr. Luo, who is to retire from the association this week, underscore the desire of China.
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