OREANDA-NEWS. March 28, 2011. Fujian Province has signed Strategic Cooperation Agreement with Baosteel, Zhang Changping, Executive Vice Governor of Fujian Province, Yuan Rongxiang, Party Secretary of Fuzhou City, Su Zengtian, Vice Governor & Mayor of Fuzhou City, Zhang Zhinan, Vice Governor of Fujian, Xu Lejiang, President of Baosteel Group Co. Ltd., Zhao Kun, Zhou Zhuping, Deputy General Manager of Baosteel Group Co. Ltd., Ma Guoqiang, General Manager of Baoshan Iron & Steel Co. Ltd., Lou Dingbo, Deputy General Manager of Baoshan Iron & Steel Co. Ltd., etc, have attended the signing ceremony. Zhang Changping and Xu Lejiang have officially launched Baosteel Desheng Stainless Steel Co. Ltd. Moreover, Baosteel Desheng Stainless Steel Co. Ltd. has signed Project Support Agreement with Fuzhou City, Luoyuan County local government, reported the press-centre of Peoples Bank of Baosteel.

The Strategic Cooperation Agreement between Fujian Province and Baosteel is in conformity with the strategic policy to build west coast economic zone in China supported by Party Central Committee and State Council, as well as the strategic action to build west coast economic zone in China proposed by Fujian Provincial Committee and government.

The listing operation of Baosteel Desheng Stainless Steel Co. Ltd. Will give full play to Baosteel's cutting edge in R & D, market, production and management, making good use of regional economic competitiveness of Fujian Province, to build Baosteel Desheng into the most competitive and green stainless steel base so as to meet the requirement of national steel industrial restructuring and strategic development of west coast economic zone in China.