On December 1, the centralized launching ceremony of GIIHG (Guangzhou Industrial Investment Holding Group) major projects and the commissioning ceremony of Wuyang Steel Qinzhou base were held in Qinzhou port area of Guangxi pilot free trade zone.

In May this year, Qinzhou Municipal government and GIIHG signed a strategic cooperation framework agreement. Qinzhou base of Wuyang Steel is the first landing project of strategic cooperation between the two sides. The first phase of the project adopts the latest domestic controlled rolling and cooling technology and high-speed steel feeding device, with an annual output of 600,000 tons of low-cost, high-performance building steel and high-precision machining materials, covering all specifications of construction rebar, with an annual value of RMB2.2 billion (USD0.34 billion).