Steel Industry Forges Ahead with Reform

(Beijing) -- After nearly three decades operation, Jiangsu-based Shagang Group, one of the country's largest private steel makers, is legitimate in the eyes of regulatory authorities.

Shagang is among the 45 steel companies that the Ministry of Industry and Information Technology (MIIT) said in early April had met regulations issued in 2012 to officially enter the industry. Fifteen of the companies are privately owned.