Baosteel Development Corporation's two circular economy projects "Baosteel blast furnace slag comprehensive utilization" and "Baosteel iron oxide red comprehensive utilization industrialization" applied in 2012 recently passes Ministry of Finance's audit and wins 53 million yuan of central state-owned capital operation budget energy saving fund.
Over the years, Baosteel Development Corporation actively implements environmental management strategy, vigorously develops metallurgical solid waste comprehensive utilization industry, extensively uses social resources and carries out technological innovation. Its renewable resource comprehensive utilization ability improves significantly and industrial scale expands. It achieves good economic and social benefits and wins approval from relevant national and Shanghai municipal administrations.
At present, Baosteel Development Corporation has nine renewable resource comprehensive utilization production lines. Among them, slag grinding production line first achieves equipment localization in China and develops towards large-scale and energy-saving; Iron oxide red soft magnetic material powder production line achieves domestic and international advanced production equipment innovation and integration and carries out automate production for the first time with central control system. Baosteel Development Corporation annually establishes a number of research projects and achieves important breakthrough through project development. The technological achievements win many honors such as International Invention Exhibition Gold Medal, National Invention Exhibition Gold Medal and Shanghai Excellent Invention Selection Gold Medal.
In recent years, the country's financial system focuses on "laying solid foundation, clarifying responsibility, innovating mechanism, increasing investment and creating environment" energy saving ideas and combines energy saving with international financial crisis treatment, strategic new industry fostering and development. It gradually introduces a number of fiscal and taxation systems and methods and support environmental protection and circular economy by funding policy. Since 2004, Ministry of Finance begins to research in and establish special fund for renewable energy. It integrates existing investment and other special fund in conjunction with relevant state ministries including National Development and Reform Commission and Ministry of Science and Technology, focusing on support for scientific and technological research in renewable energy development and utilization, standards development, resources exploration and demonstration projects
