Hebei Iron and Steel Group has launched a businesses and resources integration by setting up international trade and mining companies after its debut on June 30. With an overall capacity of more than 31 million tons per year, the group has overtaken Baosteel as China's largest steelmaker.

    In July, it produced 2.84 million tons of pig iron, up 17.67 percent year-to-year; 3.07 million tons of steel, up 13.12 percent and 2.64 million tons of steel products, up 10.34 percent; created a sales revenue of 18.40 billion yuan, a profit and tax of 1.13 billion yuan and a profit of 790 million yuan.

    The group integrated the foreign trade businesses in its subsidiaries like Tangshan Steel, Handan Steel, Xuanhua Steel, Chengde Steel and Wuyang Steel by setting up the Hebei Iron and Steel Group International Trade Company. It also plans to establish a mining company to consolidate mineral resources in its subsidiaries.

    Hebei Iron and Steel Group aims to build China's largest high-quality construction material base, largest vanadium and titanium base and largest premium flat products base. It will also set up research institutes of its own, enhance self-development ability and competitiveness.