China approves restructuring for Baowu, Sinosteel, accelerating consolidation
The State Council, China’s cabinet, has approved the restructuring plan of China’s largest steelmaker, state-owned China Baowu Steel Group Corp and Sinosteel Group Corp, with Baowu assuming full control of Sinosteel, according to a statement on the website of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council on Wednesday.
Source: globaltimes.cn