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China Baowu and Taigang Group jointly reorganized?
Yes, on August 2 1, China Baowu Iron and Steel Group Co., Ltd. signed a free transfer agreement with Shanxi State-owned Capital Operation Co., Ltd., and Shanxi State-owned Capital Operation Co., Ltd. transferred the 5 1% equity of Taiyuan Iron and Steel (Group) Co., Ltd. to China Baowu for free. This is another heavy consolidation action of China iron and steel industry after China Baowu jointly reorganized Masteel.

The joint reorganization of China Baowu and Taigang Group is an important measure to implement the suggestions of the CPC Central Committee and the State Council on promoting the healthy development of China's steel industry, further promote the structural adjustment of the state-owned economy, implement the supply-side structural reform, and accelerate the merger and reorganization of industries with overcapacity.

Extended data:

The significance of reorganization:

From the joint reorganization of Baosteel and WISCO, to the actual control of heavy steel by China Baowu, and then to the reorganization of Masteel, we can see that the "steel carrier" of China Baowu is getting bigger and bigger, but it has not become "bloated".

After the reorganization, in recent years, WISCO, Chongqing Iron and Steel Co., Ltd., Maanshan Iron and Steel Co., Ltd. and other iron and steel enterprises have achieved good development performance, the production management efficiency of enterprises has been significantly improved, and the synergistic effect has been enhanced. Some old state-owned enterprises that have suffered losses for many years have turned losses in one fell swoop and are rejuvenating.

From the overall market structure, after many reorganizations and integrations, the situation of "scattered" and disorderly competition in China's steel industry has been changed to some extent, and the supply-side efficiency and competitiveness have been improved. When a leading enterprise hits the first place in the world, the industry as a whole will lose weight and be healthy at the same time, and achieve higher quality development.

Xinhuanet-China Baowu Taiyuan Iron and Steel Plan Joint Restructuring