SHANGHAI, June 22 (Reuters) - Japan's Sumitomo Corp will set up a venture with steelmaker Baosteel and carmaker First Automotive Works to process and distribute steel for China's booming vehicle industry, a state newspaper said on Sunday. The joint venture, with an investment of 176 million yuan ($21.26 million), could herald more tie-ups but aimed to start by providing steel processing and distribution for FAW, the country's top automaker, the Liberation Daily reported. "As our ...
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