The iron and steel industry in northeast China has been playing an important role both in the Manchukuo period and the Socialist China. The academic achievements of the historical analysis concerning the industry during 1940s and 1950s, however, has not been so rich, because of the following two reasons; (1) lack of historical materials; (2) ideological obstacles against recognizing the rapid economic development under the Manchukuo regime and its aftermath toward the new born China. Many historical resources were lost in the chaos during and just after the WWII. None the less, not negligible amount ofmaterials exist not only in Anshan but in Nanjing, Taipei, Tokyo, Washington, London etc., crossing widely the boundaries of the counties. The iron and steel industry is a key military industry. For this reason, the Communist and the Nationalist had strictly prohibited researchers to use their collections until 1980s. On the other hand, the image on the socialism had for long been simply stereotyped as justice or liberation among the historians in Japan after 1945. Such a situation reflexes the important truth of the history. It has, however, made the research angle of the historians inadequate to recognize the positive aspects of the industry developed by colonial authorities.