Baosteel’s Xu named as Cisa chairman

Baosteel president Xu Lejiang has succeeded Shougang's Wang Qinghai as chairman of the China Iron & Steel Assn in 2013 and 2014.

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In his speech to a recent Cisa meeting where he was formally named in the post, Xu said China’s steel industry should seek innovation-driven development, rather than investment-driven.

That means not only investment in new technology, but innovation in business models and management, he said.

Xu has been president of Baosteel since 2007.