China, the world’s single largest steel producer, has set a target to reduce domestic capacity to less than one billion tons per annum by 2025. One billion tons = more than 50 times of Indonesia’s production capacity. Hebei province, one of the largest producing area, meanwhile, aimed at keeping annual capacity within 200 million tons. Provincial government then encouraged steel producers to expand overseas instead. Hebei Bishi Steel (HBIS), one of the world’s largest producers, succeeded in acquiring steel factory in Serbia few years ago.To subscribe please click here