Construction started on a stainless steel medical instrument plant and an intelligent management platform on May 16, developed by Wanzhida New Material Co Ltd, in the Zhoucun district of Zibo city, located in East China's Shandong province.
The plant, costing 305 million yuan ($45.8 million), will produce 200,000 metric tons of stainless steel medical equipment and accessories annually after reaching its target output and sales revenue is expected to reach 4 billion yuan.
The stainless steel industry is a traditional leading sector in Zhoucun and has been prioritized in its economic transformation and revitalization, playing an important role in the high-quality development of the area.
To promote its core competitiveness and further enhance the industry cluster effect, the local government has played an active role in attracting two heavyweight players in the stainless steel industry – Tsingshan Holding Group Co Ltd and Daming International Holdings Co Ltd – both Fortune 500 companies.
Program construction is regarded as key to speeding up the transformation of the stainless steel sector from traditional operations to intensive processing. In one example, after adopting digital and smart transformation Shandong Kingride New Material Technology Co Ltd's productivity and production capacity were greatly improved.
In addition, to make it easier and affordable for firms to obtain financing, the government is introducing a financial supply chain from Zheshang Development Co Ltd and is implementing a new supply chain financial model.
A stainless steel warehouse in Zhoucun district. [Photo/zbnews.net]
The opening of the Shanghai Futures Exchange stainless steel futures delivery warehouse in Zhoucun – and the use of a warehouse built by China Minmetals Corporation – has also promoted the research and design of stainless steel, intensive processing and logistics that are supporting the development of related industries.
Zhoucun's stainless steel industry is widely said to be entering the fast lane in its move to the high end of the industrial supply chain and value chain, ushering in a bright future for further development.
Staff members get to work at a stainless steel factory in Zhoucun district. [Photo/zbnews.net]
