OREANDA-NEWS. February 25, 2011. In this year's annual work meeting, Baosteel establishes the direction and goals of  promoting "going out" strategy and enhancing international management capability. In the wake of global economic integration, Baosteel's positive integration is of great significance to the becoming of a stronger and excellent enterprise, to steel industry transition and to the establishment of national industrial brand, reported the press-centre of Baosteel.

With the further deepening of reform and opening up, China's steel enterprises will inevitably have to compete with world-class steel enterprises, which poses severe test on domestic steel companies. This requires a more open view and attitude so as to meet the challenges and difficulties. Baosteel should spend efforts to open up overseas markets and implement going out strategy. Meanwhile, in the exploration and practice, Baosteel accumulates valuable experiences, leads domestic steel companies to take the international development road and plays an important role in upgrading industrial structure and participating in international competition.

The implementation and deepening of 'Going-out" is a must for Baosteel to build global brand and develop together with upper and downstream industries. "Going out" strategy requires Baosteel to increase the steel products' international market share, to achieve scientific market layout according to plans, to expand overseas customer base and deepen the cooperation with overseas strategic customers, to lower system risks and achieve sustainable development. In recent years, overseas subsidiaries and resource industry have demonstrated a good international development trend. Baosteel needs to seize the opportunity, to judge international economic development trend and downstream customers' overseas development, so as to make plans. Under the notion of "service first", Baosteel consolidates the cooperation with upstream and downstream industries, creates  industrial chain for upstream and downstream industries to add values and forms a unique competitive advantage in opening up overseas market.

For Baosteel to become better and stronger, it is a necessity to promote "going out" strategy and enhance the capability and level of international operation. In the new development pattern, Baosteel should base on global allocation of capital, talent, technology, market and other resources in order to gradually realize the strategic, operational, management, and cultural globalization. It is essential to train qualified personnel for international development. In the "going out" process, Baosteel should be strategic demand-oriented and cultivate a team of international talents with global vision and ability to engage in international business. Baosteel should strengthen the building of innovation and entrepreneurship base for high-level overseas personnel. It should implement "Internationalization of local talent and localization of international management personnel in overseas companies", the establishment of an international talent pool and reserve personnel career development mechanisms and progressively achieve a reasonable configuration of international talents within the Group.