In the beginning of the new year, Baosteel Special Steel held the promotion meeting for 2016 Cost Reduction and Benefit Increase i.e. Labour Emulation, in which the challenging target of cost reduction and benefit increase was defined, the detailed measures of cost reduction and benefit increase were deployed, the items and key indices of cost reduction and benefit increase of each responsible department was determined.

This year, centering on the 5 aspects, i.e. cost reduction by production organization, cost reduction by process technology, cost reduction by efficiency improvement, cost reduction by synergy and cost reduction by management, Baosteel Special Steel planned 18 cost reduction and benefit increase projects of company level, detailed and implemented the items and key indices of cost reduction and benefit increase of each responsible department. To ensure that the target of cost reduction and benefit increase can be realized, and better drive the grass-root employees to participate in the company’s work of cost reduction and benefit increase, Baosteel Special Steel will highlight “3 total” (all-round, total employee, total process) cost improvement as the focus, encourage the staff to give play to their subjective initiative, contribute ideas and exert efforts based upon their posts, realize value creation and contribute to the company’s realization of annual target by means of carrying out the campaigns such as the labor emulation of all staff and appraisal of “golden idea” for cost reduction and benefit increase. Meanwhile, Baosteel Special Steel also established perfect work promoting mechanism for cost reduction and benefit increase, and clarified detailed requirements for the promotion. In the company level, the organization and responsibility promotion system was set up, the project coordination department set up the tracking and check mechanism for promotion of cost reduction and benefit increase projects. On the basis of implementing the company level projects well, the plant level cost reduction and benefit increase projects were planned and implemented, to support the realization of cost improvement and operation target of each unit.