Closer Look: Sinosteel President Goes, Problems Remain

While the reasons behind the step-down of Sinosteel's president remain unclear, the risk-prone environment of state firms has once again come into the spotlight.

Over the weekend Huang was removed from his top position in Sinosteel, China's largest iron ore trader. The decision was formally announced by the State-owned Assets Supervision and Administration Commission on May 16, which cited "work needs" as the reason for Huang's departure.