"Chinese have reason to be in our market"

Over 50 percent of the world steel market is in the hands of the Chinese and they in their long-term calculations have a reason for coming to our market.

Source: Tanjug

That is what Serbian Minister of Economy Zeljko Sertic said on Tuesday, a day after the signing of the contract to sell Serbia's Zelezara Smederevo steel factory to China's He Steel.

Speaking for state broadcaster RTS, Sertic said there were "great expectations" from the sale in terms of both GDP growth and modernization of steel production in Serbia.

Sertic said that the Chinese company would equip Zelezara with the latest technology, the same that they had in their other factories around the world and would also introduce different type of relationship between the menagement and workers, suppliers, customers and others.

"I expect great progress and overall improvement in doing business from this change," said Sertic.

Business & Economy

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