Word: shougang
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...rather than water, which significantly reduces the amount of carbon dioxide released. The resulting steam is captured and used to produce electricity. Nippon has supplied about 30 of these systems at an estimated $20 million to $40 million each. In 2003, Nippon Steel set up a joint venture with Shougang, a Beijing-based steelmaker, to develop energy-efficient technologies in China...
...dozen polluting factories will be required to reduce emissions by 30%. The targeted companies include the Yanshan Petrochemical Co., the Number 27 Locomotive Factory, four power plants and several building material and glass production factories. Shougang Steel, which is scheduled to move to neighboring Hebei province by 2010, will be required to further cut pollution from its Beijing operations...
Then, in late 1992, the Shougang steel corporation of Beijing agreed to pay $15 million for the plant. Soon after, 290 engineers and laborers arrived from China to begin packing up their new possession. After being cut or unbolted, each piece -- some are bigger than a boxcar -- is numbered and labeled in Chinese characters to ensure that the 60,000-ton jigsaw puzzle can be reassembled correctly back home in China. The furnaces now hang oddly in the open air, but within weeks they will be lifted from their cradles and made ready for transport to the port at Long...
...fate of Shougang and other state-owned behemoths was much on the mind of China's rulers last week, as they launched a de facto turnaround in Vice Premier Zhu's austerity measures, coupled with a bid to broaden and deepen medium-term economic reforms. A communique issued by the party's central committee indicated that the government was loosening the restraints on credit and growth that it imposed only last July. But the statement also made a significant nod to the importance of the market as "a fundamental factor in the disposition of resources." And it went...
...unregulated credit that was coursing through the system and fueling inflation. In May he cut interbank lending and ordered the recall of $17.5 billion worth of short-term state-bank loans that were largely in speculative schemes. But Zhu's credit squeeze soon led state-owned companies like Shougang to scream...