The SASAC wrote a letter to Wuhan Iron & Steel (Group) Co., Ltd. recently and agreed in principle that Wuhan Iron & Steel will carry out its automobile trade service business.
According to reports, building an important automotive plate production base in China is one of the strategic development goals of WISCO in the “Eleventh Five-Year Plan†period. At present, the high-quality automobile plates produced by WISCO have been used by Dongfeng, Chery, and Zhengzhou Yutong, etc., and have established strategic cooperation relationships. In order to further enhance the competitiveness of enterprises and achieve the rapid development of the enterprise, Wuhan Iron and Steel plans to invest in the establishment of an automobile trading company and carry out automobile service trade business. This move will not only further strengthen the close relationship between Wuhan Iron and Steel Corporation and automobile production enterprises, extend its industrial chain, but also accelerate the construction of Wuhan Iron and Steel Automobile Board Base and achieve the goal of Wuhan Iron and Steel Development quickly and effectively.
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