BEIJING, Feb. 2 (Xinhua) -- Provincial government of southwest China's Yunnan Province and China Baowu Steel Group Corporation Limited (China Baowu) signed a cooperation agreement in Kunming on Monday to further deepen cooperation and achieve a sharing and win-win construction in steel industry, reported Xinhua-run Shanghai Securities News Tuesday.
According to the agreement, the two sides will seek cooperation opportunities in the fields of new materials, advanced equipment manufacturing, modern logistics parks, digitalization and smart transformation. China Baowu will expand its investment in Yunnan to promote the development of related industries and the upgrading of industrial structure.
China Baowu is a pilot enterprise of state-owned capital investment companies with a registered capital of 52.79 billion yuan, an asset scale of over 860 billion yuan. With operation scale and profitability ranking among the top globally, it ranks 111th among Global Fortune 500 companies in 2019.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org).
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