Mainland, Taiwan Steel Sectors Urged to Boost Co-op amid Financial Cisis

SHANGHAI, Dec. 21 -- Steel firms from the Chinese mainland and Taiwan were urged on Sunday to beef up their cooperation to cope with the global financial crisis.

    Xu Lejiang, chairman of the mainland's Baosteel Group Co., said steel was one of the worst-hit sectors by the global economic recession, and companies from across the Taiwan Straits should have effective cooperation in raw material, market, technology and products for joint development.

    Xu made the remarks at the 4th Cross-Straits Economic, Trade and Cultural Forum, which concluded here Sunday.

    Steel firms from the mainland and Taiwan should focus on merger and equity participation, joint investment, as well as market and raw material cooperation, he said.

    (Source: Xinhua)