China Steel Corporation (abbreviated as CSC) bought 70% stake from Changzhou Xinzhong precision alloy forging products Co., Ltd on January 6th , 2011 and renamed it as Changzhou China Steel Precision Materials Corporation (abbreviated as CSPM) On March 17th, 2011。 The main objectives are to establish a new business and production base of specialty alloys for CSC Group, to provide steel industry on both sides of Taiwan Strait with specialty alloys of qualified quality, to help upgrading the industry; and to use the market advantage of mainland China as the world’s manufacturing center for worldwide sales.