Henan Moves to Consolidate Struggling Steel Sector

What’s new: Anyang Iron & Steel Group Co. Ltd., a steelmaker wholly owned by the Henan provincial government, started a government-led consolidation and registered as a new company under the name Henan Steel Group Co. Ltd.

The new company has a registered capital of 20 billion yuan ($2.89 billion). Current Anyang Iron & Steel Chairman Bo Xuebin will act as the chairman of the new entity, the company said.