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Founded in 1913, the Smederevo Steel Mill at one time contributed 40% of the city's revenue and was known as the "pride of Serbia." But it began to lose money, and intensified market competition and poor management brought it to the brink of bankruptcy. In April 2016, its 5,000 employees were facing unemployment. The HBIS Group, a steel company based in northern China's Hebei Province, set up HBIS Serbia under the framework of the Belt and Road Initiative. Two years later, the Smederevo steel plant became the largest exporter in Serbia.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466