Announcement on the transfer of production capacity of Baowu Baosteel stainless Steel and Meishan Iron and Steel Co., Ltd., China

SMM News: in accordance with the "guidance of the State Council on resolving the contradiction between serious overcapacity", The "opinions of the State Council on resolving excess capacity in the Iron and Steel Industry to extricate itself from difficulties" and the requirements of the Ministry of Industry and Information Technology issued the "measures for the implementation of capacity replacement in the Iron and Steel Industry" on January 8, 2018. With the approval of the State-owned assets Supervision and Administration Commission of the State Council (SASAC Reform [2018] No. 389, see Annex), the transfer capacity of Baowu Baosteel stainless and Meishan Iron and Steel Company of China is hereby publicized for the period from July 3 to July 9, 2018. Public scrutiny is welcome.

1. on the afternoon of May 31, Baowu, China, and the Fuzhou Municipal people's Government signed a strategic cooperation framework agreement in Fuzhou. The two sides will give full play to their respective advantages, build a mutually beneficial, win-win and sustainable development strategic partnership, and jointly build a world-class, domestic leading high-end steel manufacturing base based on stainless steel and special steel. During the exchanges, Wang Ning welcomed China's Baowu investment in Fuzhou. He expressed the hope that China's Baowu will speed up the launch of a new round of construction projects at Baosteel Desheng, constantly optimize the product structure, and meet market demand. He said that Fuzhou will vigorously carry forward the fine style of "doing it right away and doing a real job," support China's Baowu investment in Rong (Fuzhou for short), and provide high-quality service guarantees for the construction and development of China's Baowu project. Chen Derong thanked Fuzhou for its concern and support for the development of China's Baowu in Rong, and said that it would give full play to its advantages in technology, management, and capital, and increase the distribution of its projects in Rong. We will strive to build a high-end steel manufacturing base that matches the advanced manufacturing industry in Fujian Province and make greater contributions to the construction of the new Fuzhou.

2. Shanghai Municipal Government and China Baowu Iron and Steel Group Co., Ltd. signed an agreement in Shanghai on July 4 to strengthen comprehensive cooperation and promote the overall transformation and upgrading of the Wusong region. According to the agreement, the Shanghai Municipal Government and China's Baowu will further strengthen comprehensive cooperation and further promote the overall transformation and upgrading of the Baoshan Wusong area in accordance with the principle of "unified planning, cooperative development," Take Wusong area as an important carrier to implement the national strategy, improve the degree of industrial concentration and display, and strive to build this area into a demonstration area of high-quality development, economic transformation and upgrading, and excellent urban construction in Shanghai. The Shanghai Municipal Government will increase its policy support for the transformation and upgrading of the Wusong area, and China's Baowu will actively do a good job in the adjustment of the industrial structure. The two sides should establish a cooperative development mechanism as soon as possible and start the transformation and development work in the relevant regions.