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Born in China during the era of reform, Feishang Group is a modern private enterprise that answered to the needs of the times. It was willing to entrust its own growth to China’s social and economic development and modernization process. Chasing the dream of a few generations of Chinese entrepreneurs, the Group is dedicated “strengthening and repaying the country with industries” by developing businesses that will contribute to the government and its people.

Riding the Waves of Reform and Promoting Industrial Development

Riding the waves of economic reform at the start of this century, Feishang Group acquired some well-established enterprises like Wuhu Hengxin and Pingxiang Iron and Steel. Feishang kept its promises - it never abandoned any employee, and shouldered all liabilities, staff and social duties of these enterprises. It insisted to solve all inherited problems by efficiently developed their businesses. For two consecutive years, Wuhu Feishang has been the largest private enterprise that paid the most taxes and offered the most employment opportunities. Jiangxi Pinggang has quickly grown from a small-medium iron and steel company with a production capacity of less than 2 million tons to a large iron and steel enterprise with a production capacity of 10 million tons.

Confronting Crises and Increasing Employment Opportunites

Feishang understands that it is an enterprise’s responsibility to increase employment opportunities. The Group quickly increased these opportunities in the enterprises it invests in, and so far has employed 25,000 staff. When faced with the global financial crisis in 2008 and 2009, the Group’s largest enterprise Jiangxi Pinggang insisted not to reduce production, lay off staff and decrease salaries. It even took a risk and increased 6,000 places of employment.

Investing in the Mid-West and Promoting Industrial Development

The economies in the Mid-West provinces such as Anhui, Jiangxi, Guizhou and Inner Mongolia have strong development potential. Feishang helps to promote structural adjustment and industrial upgrade of local economies by making capital investments, bringing in professionals and experts, and tapping local resources.

In Guizhou, Feishang participated in the consolidation of coal mining industry in Guizhou by establishing an energy resources company and investing a large amount of capital to carry out technical reforms. With its high quality management style, the Group has greatly enhanced the safety standard of the coal mine.

In Jiangxi, after implementing the Pinggang reform, Feishang entered the forestry industry and consolidated 20 acres of plantation. With efficacious operation, the Group successfully enhanced the management standards and performance of forestry in the area.

Focusing on Energy Conservation and Developing Green Economies

Energy conservation and low carbon lifestyles are common concerns of the human kind. Feishang realizes its role in protecting the environment. Among all Feishang investment projects, iron and steel production is the highest energy consuming industry. The Group pays special attention to energy consumption and pollution caused in its production processes, spending its best efforts to ease its burden on the environment. Simultaneously, Feishang started to explore agriculture, and investment a great deal of capital in ecological forestry to fight against global warming.

In 2005, Jiangxi Pinggang’s steel rod production rate stays at the top of those of all similar production lines in the country, while its production process consumes the least energy. In 2006, the air quality standard reached 96.2%. In the same year, the Group injected 10.05 million yuan to complete the dust-removing facility of the iron-mixing furnace in the second steel plant. In 2007, Pinggang’s proposal to recycle the waste heat and gas pressure from coke furnaces and blast furnaces into electricity was approved by the National Development and Reform Commission and became one of the 8th batch of energy saving and environmental protection projects of that year. In 2006, Pinggang acquired Jiujiang Steel Plant, and invested nearly 800 million yuan to improve the plant’s environmental protection measures within 3 years.

 

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