OREANDA-NEWS. August 31, 2011. Baosteel and Japan's Mitsui & Co., Ltd. held the cadre exchange meeting in Baosteel Changshu Leadership Development Center. President He Wenbo, vice president Zhao Kun of Group Corporation, vice president Wang Jing of Baosteel Co., Ltd.,  Representative Director and Executive Vice President Masayoshi Komai and Chief Representative in China and Executive Managing Officer Yoshinori Setoyama of Mitsui & Co., Ltd. attended the exchange. Both parties had in-depth exchange on the topics of new era, new planning and new cooperation. The principals of the relevant functional departments and units of Group Corporation and Baosteel Co., Ltd., as well as nearly 30 representatives from Mitsui & Co., Ltd. attended the exchange, reported the press-centre of Baosteel.

In that morning, the personnel from both parties are divided into 4 panels for theme exchange and discussion on cooperation of steel service center, dismantling, breaking and recycling of scrapped electrical appliances, carbon fiber forming technology for car body, new energy/environmental field.

In the general assembly held in the afternoon, He Wenbo and Masayoshi Komai delivered the summary speeches on behalf of both parties. Zhao Kun presided over the meeting and introduced the operation performance of Baosteel Group last year and theof development planning for new round. Masayoshi Komai introduced the strategic planning of Mitsui & Co., Ltd.

Masayoshi Komai said in the exchange that, compared with the previous ones, the exchange this time was no longer confined to topics of steel sales and raw material procurement in China. Along with the changes of the era, both parties as the strategic partners, have more possibility for cooperation in new fields and new business. He was looking forward that both parties' future cooperation can be further expanded. Masayoshi Komai also thanked chairman Xu Lejiang and president He Wenbo for the immediate condolence sent to Mitsui & Co., Ltd. after Japan's earthquake in this year, and wished that Baosteel could continue the energetic support to Mitsui & Co., Ltd. in future.

He Wenbo said in his speech that the exchange this time is also a seminar. Although the exchange is short in time, it is quite fruitful. He believed that the prospect of cooperation between both parties was very extensive. He emphasized that Baosteel leaders were always thinking one problem, i.e. what is the most advanced steel enterprise. Nowadays, China is in the stage of rapid development, Baosteel is changing as well. On one hand, the main steel business is changing, on the other hand, Baosteel is energetically promoting the development of diversified businesses, especially Baosteel will invest more and more inputs in emerging industry, new material and new energy, etc.

He pointed out that the joint ventures in China between Baosteel and Mitsui & Co., Ltd. developed very smoothly. Baosteel needs the help from Mitsui & Co., Ltd. for future development, especially the overseas development. He wished that both parties can set foot on the existing framework for cooperation, and carry forward each cooperation project and business profoundly to realize mutual benefit, win-win and common development.

After the exchange, both parties exchanged the gifts. Mitsui & Co., Ltd. especially presented 18 cherry blossom saplings to Baosteel Changshu Leadership Development Center for commemorating the exchange.