Chinese President Xi Jinping is on a state visit in Serbia. Sunday marks the last day of President Xi's three-day visit. Accompanied by Serbian President Tomislav Nikolic and Prime Minister Aleksandar Vucic, President Xi arrived at the town of Smederevo, home to Serbia's only steel-making plant. The Smederevo Steelworks has a capacity of 2.2 million tons of steel per year. However, the plant went bankrupt in 2003. It was then sold to US Steel, and later bought back by Serbia in 2012. The plant had been looking for a new investor since. Just in April this year, the Chinese HeSteel Group bought the steel mill and plans to invest more over the next two years. The acquisition has set an example for international industrial capacity cooperation between China and central and eastern Europe. President Xi's visit to the Smederevo Steelworks shows his support for China-Serbia production capacity cooperation.
