Recently, Innovative Union of Industry-University and Research Institute for China's Circulation of Commodities of Iron and Steel, jointly proposed by Baosteel and China Materials Storage & Transportation Association and other units, was formally established. Further integrated with the resources in the fields of industry-university and research institute, the Union promotes transformation and upgrading of circulation of commodities of iron and steel and its healthy development, in turn, it injects vigor and vitality into the industry of iron and steel in the times of meager profit, by building an open platform in which covers diversified intelligence, brain strom, focused innovation.

With the development of E-commerce over the past years, it promoted the development model of China's circulation of commodities of iron and steel, which means the customers choose steel goods from visiting at store yards to visiting on websites, changing from the traditional sectioned services to the one-stop supply chain. Admittedly, the model of and pattern of circulation of commodities of iron and steel are gradually changing, the circulation industry of commodities of iron and steel is now stepping onto a crucial intersection on the road to the further reforms.

And hence, under the guidance of China Industry-University Research Institute Collaboration Association, with the support of Baosteel Group, Baosteel Co., Ltd. China Metal Circulation Association and other units; Several typical units with great influences in the industry of circulation of commodities of iron and steel, such as, Baosteel International and China Materials Storage & Transportation Association, Shanghai Yongxiang Investment (Group), jointly proposed to establish Innovative Union of Industry-University and Research Institute for China's Circulation of Commodities of Iron and Steel.

In the future, the above-mentioned Innovative Union will strengthen exploration on establishment of the industry standards, especially, the regulatory standards for storage unit for commodities of iron and steel, considering what the kinds of feasible and practical measures should be taken to motivate the progress of the industry. The Union will guide this industry to explore and practice actively in the fields of innovation in service and business model, striving to build up a healthy and high-efficient, green and low carbon circulation system of commodities of iron and steel under the orderly competition rules.