at the beginning of reform and opening up in the late 1970s, the shougang group began to develop its international business. on may 22nd, 1992, comrade deng xiaoping returned to beijing from his tour of the south to inspect shougang, opening a new chapter in its international business! in october 1992, shougang holding (hong kong) limited was established in hong kong, then successively merged and acquired four listed companies in the region. in december of the same year, shougang acquired the permanent mining, exploration and management rights of shougang hierro peru s.a.a. and its 670 km2 mining area, which became the initial stage of the group’s overseas strategic layout. after more than 30 years of the exploration and development of transnational operations, shougang has made use of its international market compliance thinking and overseas resources to open up cross-border information channels, implement hierarchical and classified management for overseas enterprises, optimize and flexibly use cross-border information and fund flow channels, and build an overseas management system with coordinated operation and effective checks and balances. currently, it has become a large-scale transnational enterprise group with international influence.
at present, the shougang group has more than 70 overseas wholly-owned or controlled subsidiaries distributed in ten countries and regions such as peru, singapore and hong kong, involving mineral resource development, import and export trade, overseas engineering construction, urban comprehensive services, etc. the total assets of its overseas enterprises amount to approximately rmb 60 billion.
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