China’s flagship project in Serbia: the red dust from the steelworks

Seven years ago, the Chinese HBIS Group, the world‘s third largest steel producer, bought the highly loss-making factory from the Serbian state. It was an important investment; even China’s President Xi Jinping visited the plant. The company is a flagship project of the “New Silk Road” promoted by Beijing, Xi said. Thousands of citizens, including many workers at the plant, applauded and cheered him.