In 2016, China's Hesteel bought Serbia's steel plant in the town of Smederevo. China 's Zijin Mining has agreed to become a strategic partner in state - owned Serbian copper mine RTB Bor after pledging to pay $ 1.26bn for a 63 % stake . The acquisition is part of a wider bid by the Serbian government to spur the country 's economic growth by selling off state - owned businesses to relieve pressure on the state budget . As part of the agreement , China Mining will spend $ 300 m on a new copper mine and $ 135 m towards environmental improvement schemes , but will also pay an additional $ 200 m to settle the Serbian mine 's debt .
China 's Zijin Mining has agreed to become a strategic partner in state - owned Serbian copper mine RTB Bor after pledging to pay $ 1.26bn for a 63 % stake . The acquisition is part of a wider bid by the Serbian government to spur the country 's economic growth by selling off state - owned businesses to relieve pressure on the state budget . As part of the agreement , China Mining will spend $ 300 m on a new copper mine and $ 135 m towards environmental improvement schemes , but will also pay an additional $ 200 m to settle the Serbian mine 's debt .