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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Robert Douglas who wrote (2800)	1/2/2001 2:17:56 PM
From: Ahda	of 3536

Shanghai Baosteel is without dispute the most efficient and profitable steel company in China. It is sitting pretty on the Shanghai Stock Exchange after the biggest share issue in the country's history (it listed on December 19th), and it now has its eyes set on Wall Street. In a sector wracked by over-capacity and low quality, Baosteel is a star that the government wants to shine ever brighter. The Rmb7.9bn (US$950m) it just raised will certainly help. Competition is world wide the labor rate, building costs are lower. China will learn from Taiwan. Europe is closer continent wise. China has much untapped energy.

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