Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：112  发布时间：2025-09-17

▲ 1982 Shanghai Petrochemical Plant Polyester Plant Short Thread Workshop Production Line

In August 1981, against the backdrop of increasingly tight macroeconomic conditions, China decided to suspend four contracts to purchase complete sets of equipment from Japanese companies and paid a compensation fee equivalent to about 11% of the total contract amount for this purpose. In March of the following year, Baosteel's huge agreement to purchase equipment from a German company was also required to postpone "delivery" for three years. These measures caused a huge uproar in international public opinion and were seen as an important symbol of China's economic "emergency brake". With the support of Deng Xiaoping, the construction of Baosteel finally did not come to a halt. By August 1982, the first batch of two giant furnaces were officially put into operation, which was about ten months later than the original plan. They will produce 3 million tons of steel annually, accounting for 1/10 of the national steel production capacity at that time. Media report: "The prototype of a modern steel joint venture has emerged before people's eyes. The one kilometer long primary rolling mill and the emerald green steel structure factory building have been mostly completed. Two four story high primary rolling mills stand upright on a solid foundation like twin brothers. In the distant 200 meter high chimney of the power plant, a faint green smoke is drifting