Ansteel Group Gains Its Best Profit Performance Ever in 2020

With a total profit of nearly 6.55 billion yuan ($1.01 billion) and a net profit of 4.01 billion yuan, Ansteel Group gained its best economic performance ever in 2020.

The year-on-year growth of its total profit in 2020 was 178.5 percent and it achieved positive growth from July 2020 amid the COVID-19 outbreak.

So far, the company has made breakthroughs in development of two national projects on core technology and started 76 reform projects under the framework of the Three-Year Action Plan (2020-22) for reform of SOEs.

What's more, it promoted reform of collectively owned factories and socialized management of retired employees in 2020. At present, more than 110 re-organized enterprises are under management of Anshan city in Northeast China's Liaoning Province and about 225,400 retired employees have been transferred to management of streets and communities.

(Executive editor: Wang Ruoting)