The relocation of Capital Steel Corporation is an important decision of the central government and should be a model in developing recycling economy and resources-saving society, said China's top advisor Jia Qinglin.

The new steel program in Caofeidian of Tangshan in Hebei Province should aim at an environment-friendly industrial garden with clean production and recycling use of resources, said Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body.

Efforts should be paid to quickening the science and technology improvement and independent innovation in the new steel industrial garden, said Jia during his inspection visit to Capital Steel in Beijing and its new site in Caofeidian October 27-29.

The relocation of China's fourth largest steel company would improve the competitive ability of Chinese steel industry in the international market and also means an opportunity for Beijing and Hebei Province to adjust their economic structure and tighten regional cooperation, he said.

The Capital Steel Corporation, a Beijing-based large steel maker, opened a new subsidiary on October 22 in its neighboring Hebei Province, a major step in its eastward relocation.

Source: Xinhua