Hebei has a role model in slash-recast game

HeSteel Group Co Ltd, China's largest iron and steel business group by production capacity, has become a role model for the traditional steel industry in terms of its ability to cut excess capacity and restructure itself.

The Hebei-based company started cutting capacity earlier than others. Hebei province owns a quarter of China's total steel capacity.

It started to eliminate outdated capacity in 2008, when the steel industry began to be affected by the global financial crisis that caused economic woes later.