Baosteel Desheng Stainless Steel Co., Ltd.
In November 2021, "China Baowu carbon Neutralization Action Plan" released to explore new ideas of green low-carbon metallurgy in the industry.
In July 2021, China Baowu Steel Group has signed an agreement with partners to set up a “carbon neutral” fund, targeting a total investment of 50 billion yuan ($7.74 billion). In January 2021, China Baowu took the lead in publishing the declaration on carbon emission reduction in the steel industry: strive to achieve carbon peak by 2023 and carbon neutralization by 2050. See history of China Baowu Steel since 2016. will become the company's new controlling shareholder. (Xingang Co., Ltd., 600782.SH) announced that China Baowu Iron and Steel Group Co., Ltd. On April 24, 2022, Xinyu Iron and Steel Co., Ltd. In July 2021, Shandong Iron and Steel (600022.SH) announced that Shandong State-owned Assets Supervision and Administration Commission and China Baowu are planning a strategic reorganization of Shandong Iron and Steel Group, which may lead to changes in the company's controlling shareholders and actual controllers. Since 2019, China Baowu has jointly reorganized Maanshan Iron and Steel Group and Taiyuan Iron and Steel Group, actually controlled Chongqing Iron and Steel, and was entrusted with the management of Sinosteel Group, Chongqing Iron and Steel Group and Kunming Iron and Steel Company, and achieved a substantial jump in overall production capacity. Baoshan Iron and Steel Company Limited, the listed portion of Baosteel Group tookover Wuhan Iron and Steel Company Limited in an all-share deal, making Wuhan Iron and Steel a wholly owned subsidiary of the Baosteel Group. In 2016, Baosteel and another state-owned steel maker, Wuhan Iron and Steel merged to form the Baowu Steel Group. Baosteel Groupīaoshan Iron and Steel received government contracts to absorb Shanghai Metallurgical (上海冶金控股集团公司) and Shanghai Meishan Group (上海梅山集团公司) to form the Baosteel Group and become China's largest steel maker. Baoshan Iron and Steel, a predecessor of Baosteel, was founded in the Baoshan District of Shanghai in 1978. Beginning in 1978, the Chinese government began to institute economic reforms and called for a large integrated steel production facility to be located near the port of Shanghai.
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