Overview of iron and steel industry in China in the 20<sup>th</sup> and 21<sup>st</sup> centuries: what are the main steps of its development?
Speaking about the XX century after the establishment of People's Republic of China in 1949 the leading trade partner of the country was Soviet Union and after the crisis in Chinese-Soviet relations in the 1960s there has been a shift towards the trade within Asian region, which once again shows that China has always been an active player on the international market because of its productions' power. The way China interacts with other regions and particular countries is an exciting topic for international relations scientists because it reflects the state of affairs of China at every step of its development. For more than 50 years, the Russian metallurgical industry has been building its relationships with China as one of the leading partners. So because Russia has passed through a stage of stagnation after the collapse of the USSR and the period of finding a new balance due to reduced domestic Russian demand, it was crucial to continue developing relations with the closest neighbors and try to catch up. However, why is international trade developing so fast? This happened as a result of the growing purchasing power of the Chinese population; domestic manufacturers are increasing their operations within the domestic market, which is making the country known for being the manufacturer of the world, in its factory. Ferrous metallurgy is used in engineering, construction, and automotive, that is, in critical sectors of the economy. Therefore, scientists and analysts pay great attention to the steel industry and its research. In order to understand the modern state of affairs in the iron and steel industry in China, authors provide an overview of the industry itself using various sources of data, such as historical review and collection of quantitative data, estimate its development to understand its weak and sharp points for the business development.