OREANDA-NEWS. September 04, 2014. The signature ceremony of Sinosteel Corporation and Hengyang municipal government was held in Sinosteel Corporation. Jia Baojun,President of Sinosteel corporation and chairman of Sinosteel Corporation Limited, Xu Siwei, Party Secretary of Sinosteel Corporation and General Manager of Sinosteel Corporation Limited, and Li Yilong,secretary of Hengyang municipal CPC committee have attended to the event. Liu Andong, member Party Committee of Sinosteel Corporation, Deputy General Manager and Chief Accountant of Sinosteel Corporation Limited, and Duan Zhigang,member of Hengyang municipal CPC committee and the executive deputy mayor have signed the cooperation framework agreement on behalf of both parties. 
 
Both parties have held cordial and amicable talks before the signature ceremony. President Jia said that Sinosteel regards Hengyang as a important point in the layout of Sinosteel equipment manufacturing section in South China, and based on good mutual cooperation, it’s expected for both parties to jointly integrate advantageous resources, so as to not only promote transformation and upgrading of SINOSTEEL HYMC to strength core competitiveness of the enterprise but also drive the growth of local economy, to realize mutual benefit and win-win development. 

General Manager Xu said that Sinosteel will have the upgrading and reconstruction program of SINOSTEEL HYMC conducted well in combination with the industrial restructuring of Sinosteel itself, and inspire enterprise energy through mechanism innovation, promote the supporting service for equipment manufacturing to make more contribution to the development of local economy. 

Secretary Li Yilong made a brief introduction of Hengyang city in respect of the economic and social development, industrial restructuring and comprehensive advantages in resources, policy and location. He said that, Hengyang wishes to strength cooperation with central enterprises in Hengyang, and both parties should take the signature of this cooperative framework agreement as a good opportunity for elaboration of the coordination effect as well as close communication and cooperation, thus realizing common development of local economy and central government. 

The signature of this framework agreement indicates that both parties will further strength all-around cooperation, focus on support for SINOSTEEL HYMC to implement the program of upgrading and restructuring the capacity of major advanced equipments industrialization , advance the mating development of Sinosteel upstream and downstream industrial chains and promote the general capacity and level of socialized mating services of equipment manufacturing section.