Xinjiang Ba Yi Iron and Steel
Corporate brand
UnclaimedA major Xinjiang-based Chinese steelmaker and a listed company associated with China Baowu Steel Group.
Last updated October 9, 2026
Overview
Xinjiang Ba Yi Iron and Steel, commonly called Ba Yi Iron & Steel, August 1 Iron & Steel, Bagang, or BYIS, is a Chinese steel producer headquartered in Ürümqi, Xinjiang. Its industrial origins date to 1951, when a steel plant was established by the People's Liberation Army as part of a nationwide program that created small steelworks in a number of Chinese provinces. The name “Ba Yi,” meaning “Eight One” or “August 1,” refers to 1 August 1927, the date associated with the founding of the People's Liberation Army. The enterprise became an important regional industrial company as China's economy moved from a centrally planned system toward market-oriented corporate structures. It was identified as one of China's 512 important state-owned enterprises in 1997, including one of the designated enterprises in the iron and steel sector. In 2000, Xinjiang Ba Yi Iron and Steel Co., Ltd. was incorporated to hold the principal steel-manufacturing business, and its shares were listed on the Shanghai Stock Exchange in 2002. A major ownership transition took place in 2007. Baosteel Group, the predecessor organization of China Baowu Steel Group, acquired a controlling interest in the group through a capital-injection arrangement. Baosteel contributed approximately RMB 3 billion in new capital and obtained a 69.56 percent stake, while the Xinjiang regional state-assets authority's interest was diluted to 15 percent and transferred to Xinjiang Investment Development Group. The transaction integrated Ba Yi Iron and Steel more closely with one of China's largest steel groups while preserving its role as a Xinjiang production base. The group adopted the name Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd. that year. The holding structure was recapitalized again in 2014, when China Huarong Asset Management and the Xinjiang regional financing-guarantee company were identified among the other shareholders. The listed company and the wider group have consequently occupied related but distinct positions: the listed entity represents the publicly traded steel-manufacturing business, while the group-level company has served as the controlling platform. Ba Yi Iron and Steel's product portfolio is centered on carbon-steel products used in construction, infrastructure, industrial fabrication, and general manufacturing. Its principal lines include reinforcing bar and other long products, hot-rolled steel coil and plate, and structural sections. As a regional producer, the company has been associated particularly with supplying Xinjiang and surrounding markets, where transport distances and local industrial demand make regional steel capacity strategically important. Its connection to China Baowu provides access to a much larger steel-industry group, while its local identity remains tied to Xinjiang's industrial economy. The company has also become subject to international supply-chain scrutiny because of its Xinjiang operations. The United States Department of Homeland Security added the company to the entity list connected with the Uyghur Forced Labor Prevention Act, with restrictions taking effect on 3 October 2024. The measure reflects U.S. concerns about forced labor and supply-chain conditions in the Xinjiang region; it is a regulatory and trade restriction rather than a change in the company's corporate ownership or listing status.
History
Xinjiang Ba Yi Iron and Steel traces its history to a steel plant established in Ürümqi in 1951 by the People's Liberation Army. It was one of a group of small steel plants created in different Chinese provinces during the early industrialization period. Its “Ba Yi” name derives from 1 August 1927, the date commemorated as the founding of the People's Liberation Army. The plant later developed into Xinjiang Ba Yi Iron and Steel General Plant and became part of the state-owned industrial system. In 1997, it was included among China's 512 important state-owned enterprises and was counted among the country's designated major iron and steel enterprises. During the marketization of China's economy, the business was reorganized into a limited-company structure. Xinjiang Ba Yi Iron and Steel Co., Ltd. was incorporated in 2000 to hold the main steel-manufacturing operations. The company completed its public listing on the Shanghai Stock Exchange in 2002, creating a listed vehicle alongside the broader Ba Yi Iron and Steel group. In 2007, Baosteel Group became the controlling strategic shareholder. It injected approximately RMB 3 billion in new capital and acquired 69.56 percent of the group, diluting the Xinjiang regional state-assets authority to a 15 percent interest. The regional stake was transferred to Xinjiang Investment Development Group. The group was renamed Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd., reflecting its integration into Baosteel's corporate system. Baosteel Group subsequently became part of the organizational lineage of China Baowu Steel Group. The group underwent another recapitalization in 2014. China Huarong Asset Management and the Xinjiang regional financing-guarantee company were identified as minority shareholders in the reorganized structure. The listed company remained the public-market steel-production entity, while the group-level holding company retained the controlling role. Ba Yi Iron and Steel's commercial role is primarily regional. It produces construction and industrial steel, including reinforcing bar, hot-rolled products, plate, and structural sections, for customers in Xinjiang and other Chinese markets. Its location gives it a strategic role in supplying a geographically distant and industrially developing region, while its relationship with China Baowu links it to a national steel network. In 2024, the company was included on the U.S. Department of Homeland Security's entity list under the Uyghur Forced Labor Prevention Act. The restrictions took effect on 3 October 2024. The listing reflects U.S. supply-chain and forced-labor concerns associated with Xinjiang and may affect the import treatment of goods connected with the designated entity. It does not, by itself, indicate that the company ceased operations or ended its public listing.
- 2024
U.S. UFLPA entity-list restrictions take effect
[1]U.S. restrictions associated with the Uyghur Forced Labor Prevention Act entity list took effect on 3 October 2024.
- 2014
Group recapitalization
[1]The Ba Yi Iron and Steel group was recapitalized, with China Huarong Asset Management and a Xinjiang regional financing-guarantee company identified among the other shareholders.
- 2007
Baosteel Group takes control
[1]Baosteel Group injected new capital and acquired a 69.56 percent controlling interest, leading to the group's renaming and closer integration with Baosteel.
- 2002
Shanghai Stock Exchange listing
[1]The listed company floated its shares on the Shanghai Stock Exchange.
- 2000
Listed-company predecessor incorporated
[1]Xinjiang Ba Yi Iron and Steel Co., Ltd. was incorporated to hold the principal steel-manufacturing business.
- 1997
Recognized as an important state-owned enterprise
[1]Ba Yi Iron and Steel was included among China's 512 important state-owned enterprises and among the designated enterprises in the iron and steel sector.
- 1951
Steel plant established in Ürümqi
[1]The People's Liberation Army established the predecessor steel plant in Xinjiang as part of a national program of small steelworks.
Products and positioning
A Xinjiang regional steel leader integrated into the China Baowu steel group, serving construction, infrastructure, and industrial customers.
Construction steel
Rebar and reinforcing steel
Reinforcing bar is a core long-steel product for concrete construction and infrastructure. It serves building, transport, municipal, and industrial projects, particularly in the Xinjiang regional market.
Flat steel
Hot-rolled steel coil and plate
The company's flat-steel range includes hot-rolled products used in fabrication, equipment, construction components, and general industrial manufacturing. The available reference material identifies hot-rolled products and plate among its principal product categories.
Structural steel
Structural sections and other long products
Structural sections and related long products support building frames, industrial structures, and engineering applications. They complement the company's construction-steel and flat-steel businesses.
Controversies
2024
U.S. forced-labor supply-chain designation
The U.S. Department of Homeland Security placed Xinjiang Ba Yi Iron and Steel on the entity list associated with the Uyghur Forced Labor Prevention Act. The designation reflects U.S. concerns about forced labor and supply-chain conditions in Xinjiang and took effect on 3 October 2024.
Brand decisions
2014
Group recapitalizationStrategyBackground
The Ba Yi Iron and Steel group adjusted its capital structure after its integration with Baosteel.
Action taken
The group was recapitalized, with China Huarong Asset Management and a Xinjiang regional financing-guarantee company identified among the minority shareholders.
Aftermath
The group retained its Baosteel-linked controlling structure while adding or formalizing minority participation.
2007
Baosteel Group capital injection and control transactionM&ABackground
Ba Yi Iron and Steel was being integrated into a larger national steel-industry structure during the consolidation of China's steel sector.
Action taken
Baosteel Group injected approximately RMB 3 billion in new capital and acquired a 69.56 percent interest in the group. The group was renamed Baosteel Group Xinjiang Ba Yi Iron and Steel Co., Ltd.
Aftermath
The transaction made Ba Yi Iron and Steel a controlled company in the Baosteel system and ultimately connected it to China Baowu's corporate group.
Capital injection. Approximately RMB 3 billion injected (2007)
Sources1 sources
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