On October 19, Xu Lejiang, chairman of Shanghai-based Chinese steel giant Baosteel, stated that Baosteel accounts for 18 percent of total energy consumption in Shanghai, as reported by Baosteel.
Mr. Xu went on to say, "If we cannot solve the problems of environmental pollution and energy consumption, Baosteel will not keep its place in Shanghai."
Baosteel's annual steel output in Shanghai amounts to around 27 million mt.