▁order ▁to ▁expand ▁Global ▁Switch ▁Hold ing ' s ▁strateg ic ▁infrastr ucture . ▁ ▁Due ▁to ▁on going ▁over cap acity ▁within ▁the ▁steel ▁sector , ▁Ji ang su ▁Sh ag ang ▁Group ▁purchased ▁two ▁internet ▁data ▁fir ms ▁for ▁$ 3 . 8 ▁billion , ▁as ▁part ▁of ▁an ▁attempt ▁to ▁expand ▁into ▁new ▁indust ries ▁for ▁divers ification . ▁The ▁June ▁ 2 0 1 7 ▁deal ▁targets ▁Ji ang su ▁Q ing f eng ▁In vest ment ▁Management ▁Co . ▁Ltd . ▁and ▁Be ij ing ▁Daily ▁Te ch ▁Co . ▁Ltd . ▁ ▁Business ▁Iron ▁and ▁steel ▁are ▁g ird ing ▁China ' s ▁economic ▁development , ▁and ▁Ji ang su ▁Sh ag ang ▁is ▁big ▁part ▁of ▁that ▁process . ▁The ▁company ▁processes ▁some ▁ 1 8 ▁million ▁tons ▁of ▁iron ▁ann ually ▁in ▁order ▁to ▁roll ▁out ▁about ▁ 2 3 ▁million ▁tons ▁of ▁steel ▁each ▁year , ▁making ▁it ▁one ▁of ▁China ' s ▁top - five ▁steel ▁produ cers . ▁Ji ang su ▁Sh ag ang ' s ▁product ▁line ▁includes ▁re bar , ▁wire ▁ro ds , ▁sl abs , ▁and ▁hot - rolled ▁co ils . ▁In ▁addition ▁to ▁iron ▁and ▁steel , ▁Ji ang su ▁Sh ag ang ▁produces ▁st ain less ▁steel ▁and ▁z inc - pl ated ▁steel ▁sheets . ▁Since ▁ 2 0 0 6 , ▁the ▁company ▁has ▁acquired ▁four ▁smaller , ▁rival ▁steel ▁companies , ▁and ▁it ▁now ▁ranks ▁as ▁China ' s ▁largest ▁private ▁steel