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Sinosteel

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2011

    Hundred-Billion Debt Crisis

    Sinosteel Group, due to nearly RMB 4 billion in funds occupied by Shanxi Zhongyu, overseas investment losses and chaotic management, had general manager Huang Tianwen removed in 2011; in 2014, tens of billions in loans were overdue; in 2015, a hundred-billion-yuan debt restructuring plan was approved by the State Council. Debt-to-equity restructuring.

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