Peering into Sinosteel's Financial Black Hole

(Beijing) – After reporters left the room, State Assets Supervision and Administration Commission (SASAC) Director Li Rongrong looked squarely at the state-owned enterprise executives in the audience and vented his frustration.

Li proceeded to name and shame several, central government-administered SOEs for various shortcomings.

And a key target of his criticism at the July 23 SASAC conference was the giant, state-owned iron ore and steel trading company Sinosteel.