Liaoning leads the way in SOE reforms with Ansteel, Bensteel restructuring
After three years of reform, China's State-owned enterprises have become leaner and healthier and are stepping up their efforts to boost core competitiveness. During the three years, remarkable progress has been made in terms of industrial reorganization in sectors such as steel. In 2021, two Liaoning province-based steelmakers, Ansteel and Bensteel underwent a merger and restructuring to create the world's third-largest steelmaker. According to Han Yongde, deputy general manager of Bensteel Group, the restructuring has helped increase the concentration of the steel industry in Liaoning. Ansteel's crude steel output accounted for 58.6% of the total crude steel produced in Liaoning province.