Located in Manchuria (Northeast China), the geopolitical borderland between China, Russia, and Japan, among others, Anshan Iron and Steel Works (Angang) was Mao-era China’s most important industrial enterprise. The history of Angang from 1915 to 2000 reveals the hybrid nature of China’s accelerated industrialization, shaped by transnational interactions, domestic factors, and local dynamics. Utilizing archives in Chinese, Japanese, Russian, and English, Koji Hirata provides the first comprehensive history of this enterprise before, during, and after the Mao era (1949–1976). Through this unique lens, he explores the complex interplay of transnational influences in Mao-era China. By illustrating the symbiotic relationship between socialism and capitalism during the twentieth century, this major new study situates China within the complex global history of late industrialization.