"Signing the "Declaration" is to show our attitude. Steel companies should take the lead in demonstrating the responsibility of industrial enterprises." Why did the representatives of 15 steel companies such as Baotou jointly sign and jointly publish the "Green Development of China's Iron and Steel Enterprises"? The Declaration, Wei Shuan said so.

According to him, in response to the ultra-low emission requirements of the state and Inner Mongolia Autonomous Region, Baotou Steel has set up a special ultra-low emission working group, and actively formulated a roadmap for ultra-low emission of Baotou Steel, plans to invest 6 billion yuan to promote the implementation of coke oven flue gas. 57 projects including desulfurization and denitrification, sintering machine to smoke plume demonstration project, material yard closure, and ecological restoration of Daqingshan mining area. Baotou Steel also promotes the development of environmental protection industry in accordance with the model of “industrial development, professional management and market operation”. For example, on August 18th, Baotou Steel Group Environmental Engineering Research Institute Co., Ltd. initiated the establishment of a joint energy and environmental laboratory, and hired top scientists to target the international frontier scientific issues in energy and environmental research, and strive to build the laboratory into National iron and steel industry basic research and application of basic research, gathering and training of outstanding scientific and technological personnel, and an important base for academic exchanges. For another example, Baosteel introduced the steel slag processing line developed by Columbia University's advanced technology to produce high-purity calcium carbonate.

Reduce the debt ratio below the industry average in two or three years

On August 23, Baotou Steel signed the "Baogang Group Debt-to-Equity Swap Agreement" with Bank of China Inner Mongolia Branch, Bank of China Assets, Inner Mongolia Transformation and Upgrading Fund Investment Center, Inner Mongolia Financial Assets Corporation and China Oriental Asset Management Co., Ltd. The total amount of debt-to-equity swaps was 5.361 billion yuan. The Baotou Steel debt-to-equity swap has achieved initial results, and the debt-to-equity swap implementation plan is basically mature.

"By the end of this year, Baotou Steel's asset-liability ratio is expected to decrease by 5 percentage points to about 74%. We will strive to reduce the debt ratio below the industry average in two or three years." Wei Shuu emphasized.

He also pointed out that enterprises seeking external support are only blood transfusions. To maintain the healthy body of the enterprise, it is necessary to enhance their own hematopoietic capacity. Otherwise, even if the debt-to-equity conversion is completed, once the market is volatile, the enterprise will be in trouble. High financial costs are an important reason for the impact of business. This year, Baotou Steel implemented the “four reductions and two mentions” (reducing financial costs, reducing manufacturing costs, reducing logistics costs, reducing labor costs, improving asset operation efficiency, and improving work efficiency), including reducing financial expenses. Significant results, the annual financial forecast is expected to reduce more than 200 million yuan.

Strive to become the forerunner of Inner Mongolia's "open to the north"

According to Wei Shuanshi, in the first seven months of this year, Baotou Steel exported 1.546 million tons of steel, an increase of 27% year-on-year, and the export growth rate ranked among the best in the industry. The export of Baotou Steel is mainly concentrated in the countries along the “Belt and Road”. Among the 53 countries that Baotou Steel exports, there are 46 countries along the “Belt and Road”, with an export volume of 1.187 million tons, an increase of 85%. Baotou Steel makes full use of the geographical location and location advantages of Inner Mongolia and Mongolia, increasing the utilization of Mongolian resources and enhancing the strategic security of resources. Today, Baotou Steel has negotiated the procurement and supply of coking coal and iron ore resources with Mongolian ER Company, ETT Company and Yeluo Company, and has become the largest buyer of high quality coking coal in Mongolia.

He revealed that in the next step, Baotou Steel will continue to actively respond to the “One Belt and One Road” initiative and the “open to the north” call in Inner Mongolia to achieve the optimal allocation of production factors and improve the international management capacity. First, expand product exports, strengthen cooperation with central enterprises, “borrowing ships to the sea”, accelerate the distribution of export marketing service networks, expand international market share, improve export grades and benefits, and strive to make overseas sales of steel products account for more than 20%. The second is to explore the layout of overseas industries, promote the development of advantageous production capacity, and promote the export of advanced equipment, technology and management. Third, we will control international resources with a global perspective, increase the development and utilization of Mongolian iron ore and coking coal resources, enhance the capacity of foreign resources, and strive to become the pioneer of Inner Mongolia's “opening to the north”.