 | |
| State-owned enterprise | |
| Industry | Steel manufacturing |
| Founded | 1958 |
| Headquarters | Maanshan, Anhui , People's Republic of China |
Area served | People's Republic of China |
Key people | President: Mr. Gu Jianguo Party secretary: Mr. Gu Zhanggen |
| Products | Steel |
| Subsidiaries | Maanshan Iron & Steel Company |
| Website | Magang (Group) Holding Company Limited |
Magang (Group) Holding Company Limited, or Masteel, is one of the largest iron and steel enterprises in Mainland China headquartered in Maanshan, Anhui Province. It gained the fame of "a flower of Jiangnan" (South part of Yangtze River in Chinese language).
Iron is a chemical element with symbol Fe and atomic number 26. It is a metal, that belongs to the first transition series and group 8 of the periodic table. It is by mass the most common element on Earth, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust.
Steel is an alloy of iron and carbon, and sometimes other elements. Because of its high tensile strength and low cost, it is a major component used in buildings, infrastructure, tools, ships, automobiles, machines, appliances, and weapons.
Business is the activity of making one's living or making money by producing or buying and selling products. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."
Masteel was founded in 1958 from Maanshan Iron Mining Plant. In 1993, it split into Magang Holding Company (the name was changed into Magang (Group) Holding Company Limited in 1998) and Maanshan Iron & Steel Company Limited. At the same year, it was listed on the Hong Kong Stock Exchange and Shanghai Stock Exchange.
The Stock Exchange of Hong Kong Limited, abb. SEHK, is Asia's third-largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and Shanghai Stock Exchange, and the fourth single largest stock market in the world. As of 31 October 2016, SEHK had 1,955 listed companies, 989 of which are from mainland China, 856 from Hong Kong and 110 from other countries and region Hong Kong Exchanges and Clearing owns SEHK and is itself listed on SEHK. It is the fastest growing stock exchange in Asia.
The Shanghai Stock Exchange (SSE) is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other being the Shenzhen Stock Exchange. Shanghai Stock Exchange is the world's 4th largest stock market by market capitalization at US$5.5 trillion as of April 2018. Unlike the Hong Kong Stock Exchange, the Shanghai Stock Exchange is still not entirely open to foreign investors and often manipulated by the decisions of the central government. This is due to tight capital account controls exercised by the Chinese mainland authorities.
