After decades of expansion, China's steel industry develops from weak to strong; China has become a steel-producing country occupying half of global production. At the same time, in high-speed extensive development process, iron and steel production overcapacity, the chaotic regional distribution and weak demand put the steel industry gravely enormous market pressures. The plight of the downstream steel industry is bound to affect the upstream iron ore prices; as scarce resource, the iron ore price is easy to go up, so the steel industry will accelerate the transformation and upgrading, which will inevitably affect the reform of the mining machinery industry.
The emerging industrial system bases on high-tech, high value-added, low power consumption, low pollution and innovative organic industry group, supported by efficiently working auxiliary systems, such as technology, human resources, capital, information, etc., relies on industrial development environment of beautiful environment, complete infrastructure, strong social security and good market order, it is characterized by innovation, openness, integration, clustering and sustainability. The chain extension of iron and steel industries is bound to strengthen the building of brands and patents, innovate business models and enhance the overall industrial development level.
With the vigorous implementation of the "12th Five-Year Plan” and the acceleration of urbanization and infrastructure construction, China's economic development structure begin to transform, and put building a modern industrial system as a strategic priority. As the leader of the mining machinery industry, Henan Hongxing focuses on independent innovation, strengthens the integration of quality management system and advanced technology, shapes superior quality and brand and promotes changes in the structure of mining machinery so that boost the development of the steel industry.
