How to define the relationship between Baoshan Iron & Steel Co., Ltd. (Baosteel) and Baosteel Group Corp., and how they position themselves?
As the primary steel assets of Baosteel Group have been acquired by Baoshan Iron & Steel Co., Ltd (the public company), Baosteel became the major entity of Baosteel Group to operate steel business. Aiming at becoming the most competitive iron & steel enterprise in the world, Baosteel is fully engaged in steel operation from planning, production, purchasing, to R&D, sales and marketing, and other related businesses. Baosteel Group strategically aims to be extremely competitive in core businesssteel business, and properly diversified into related businesses. The role of the Group is to set up overall strategic development plan; build up industrial synergy framework, manipulate resources at group level, promote coordinated development among subsidiaries, back up the expansion and optimization of steel business. Baosteel Group has already installed a BOD with more than half of the members from outside the Group. Through the BOD, Baosteel Group exercises the right as the state shareholder o
