This agreement is another major step taken since the two sides signed a strategic framework agreement in 2006.
CNPC Chairman Jiang Jiemin, CNPC President Zhou Jiping, and Baosteel Chairman Xu Lejiang had a discussion on further deepening co-operation and attended the signing ceremony. CNPC Vice President Liao Yongyuan and Baosteel Co Ltd’s President Ma Guoqiang signed the agreement on behalf of the two sides. CNPC Vice President Yu Baocai presided over the signing ceremony.
Baosteel is one of the most competitive steel complexes in China and is a leader in the domestic steel sheet market as well as exporting quality steel products to more than 40 countries. The company’s three major products – namely straight carbon steel, stainless steel, and special steels – are widely used in industries such as automobile, home appliances, petrochemical, machine building, energy and transportation, construction and decoration, metalwork, aerospace and aviation.