Steel pipes at a stockyard in Shanghai. Citic is creating an industry leader at a time when Beijing wants the country to consume and produce more high-quality steel products. Photo: Bloomberg

Why a US$3.3 billion merger between Citic’s specialist units adds steel to China’s self sufficiency ambitions

  • Daye Special Steel agrees to buy 86.5 per cent stake in Xingcheng Special Steel for 23.18 billion yuan
  • Shares in Daye rise in Shenzhen, Citic stock boosted in Hong Kong
Topic |   Citic Pacific

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Steel pipes at a stockyard in Shanghai. Citic is creating an industry leader at a time when Beijing wants the country to consume and produce more high-quality steel products. Photo: Bloomberg
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