Benxi Steel Group Corp., Ltd. known as Benxi Steel Group (or Bengang in China) is a Chinese holding company based in

Benxi Benxi ( zh, s=本溪, ) is a prefecture-level city located in the east of Liaoning province, People's Republic of China, southeast of the provincial capital of Shenyang. As of the 2020 census, its population was 1,326,018 (1,709,538 in 2010), of ...

Liaoning ) , image_skyline = , image_alt = , image_caption = Clockwise: Mukden Palace in Shenyang, Xinghai Square in Dalian, Dalian coast, Yalu River at Dandong , image_map = Liaoning in China (+all claims hatched).svg , ...

Province, for two steel making group. The company was formed in 2010 as the holding company for Benxi Iron and Steel (Group) Co., Ltd. () and Beitai Iron and Steel (Group) Co., Ltd. (), the latter now known as Benxi Beiying Iron and Steel (Group) Co., Ltd. (). According to

World Steel Association World Steel Association, abbreviated as worldsteel, is the international industry association for the iron and steel sector. The association is one of the largest and most dynamic industry associations in the world, with members in every major s ...

(Chinese companies data was provided by

China Iron and Steel Association China Iron and Steel Association (CISA, ) is a national, non-profit organization founded in 1999 on the basis of China Metallurgical Enterprise Management Association. CISA members consist of China’s steel enterprises, institutions, societies an ...

), the corporation was ranked the 21st in 2015 the world ranking by production volume. It was owned by

State-owned Assets Supervision and Administration Commission The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the State Council of the People's Republic of China. It was founded in 2003 through the consolidation of various other indus ...

(SASAC) of Liaoning Provincial People's Government.

History

In 1905, after the

Russo-Japanese War The Russo-Japanese War (8 February 1904 – 5 September 1905) was fought between the Russian Empire and the Empire of Japan over rival imperial ambitions in Manchuria and the Korean Empire. The major land battles of the war were fought on the ...

, Liaoning fall under the

sphere of influence In the field of international relations, a sphere of influence (SOI) is a spatial region or concept division over which a state or organization has a level of cultural, economic, military, or political exclusivity. While there may be a formal a ...

of Japan. Japanese

Okura Kihachiro Okura or Ōkura may refer to: * Okura Hotels, an international chain headquartered in Japan * Ōkura River in New Zealand * Ōkura, New Zealand, a village * Ōkura school of traditional Japanese comic theater * Okura, Yamagata, a village in Ja ...

opened a coal mine in Benxi. After the protest of

Qing Government The Qing dynasty (1644–1912) was the last imperial dynasty of China. The early Qing emperors adopted the bureaucratic structures and institutions from the preceding Ming dynasty but split rule between the Han and Manchus with some positions als ...

, it became a Sino-Japanese joint venture in 1910 (as ). In the next year the company added "Iron" in the denomination (as ). After the Mukden Incident, the company was under sole Japanese control until the end of

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

. During

Chinese Civil War The Chinese Civil War was fought between the Kuomintang-led Nationalist government, government of the Republic of China (1912–1949), Republic of China and the forces of the Chinese Communist Party (CCP). Armed conflict continued intermitt ...

, in 1948 the company and Liaoning fall under

Chinese Communist Party The Communist Party of China (CPC), also translated into English as Chinese Communist Party (CCP), is the founding and One-party state, sole ruling party of the People's Republic of China (PRC). Founded in 1921, the CCP emerged victorious in the ...

controls. In 1953, the coal mine was separated from the company as Benxi Mining Bureau. (now part of

Shenyang Coal Industry Shenyang,; ; Mandarin pronunciation: ; formerly known as Fengtian formerly known by its Manchu name Mukden, is a sub-provincial city in China and the provincial capital of Liaoning province. It is the province's most populous city with a pop ...

) The steel refinery was also modified under the aid of

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

as 1 of of the First Five-year plan of China. It was one of the 512 important

state-owned enterprise A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...

s in 1997. (1 of 47 iron and steel industry). In 2005 a merger between Benxi Iron and Steel and Anshan Iron & Steel Group Corporation was announced but never materialized. In 2010 a new holding company was formed to takeover "Benxi Iron and Steel" and "Beitai Iron and Steel", located in Beitai, a town in Pingshan District, Benxi. The latter was owned by SASAC of Benxi City, but was transferred to Liaoning SASAC in order to finalize the merger. In August 2021, Bengang began a merger with

Ansteel Group Anshan Iron and Steel Group Corporation (Ansteel Group in short; less popularly Angang Group) is a Chinese state-owned steel maker. The corporation is under the supervision of State-owned Assets Supervision and Administration Commission of the Sta ...

which, once completed, will create the third largest metal producer in the world. During the disaster of Air France flight AF447 in 2009, Benxi Iron and Steel Company lost 6 employees, including the executive Chen Chiping, the wife of Liaoning's vice provincial governor

Liu Guoqiang Liu Guoqiang (; born December 1953) is a former Chinese politician. He spent his entire career in his home-province Liaoning. He was investigated by the Central Commission for Discipline Inspection in July 2020, and has since retired. Prior to th ...

Subsidiaries

Bengang Steel Plates, a subsidiary of Benxi Iron and Steel, is a listed company in

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

(). As at 7 November 2016, Bengang Steel Plates was a constituent of

SZSE 1000 Index The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

(top 1000 companies by capitalization) and SZSE 700 Sub-Index (the 301st to 1,000th companies by capitalization), but not a constituent of

SZSE Component Index The SZSE Component Index is an index of 500 stocks that are traded at the Shenzhen Stock Exchange (SZSE). It is the main stock market index of SZSE. Constituents The full list of all constituent stocks can be found aSZSE Related indices * ...

(top 500 companies by capitalization), making the listed company was ranked between the 501st to 1000th by free float adjusted market capitalization.

References

External links

* {{Steel companies of the People's Republic of China Steel companies of China Companies based in Liaoning Manufacturing companies established in 1910 Chinese companies established in 1910 Companies owned by provincial governments of China Non-renewable resource companies established in 1910 Holding companies established in 2010 1910 establishments in China 2010 establishments in China Benxi