OREANDA-NEWS. June 16, 2011. Recently "2011 Annual Exchange between Baosteel-Shanghai Electric" was held in Baoshan Hotel. Chairman of Baosteel Group Corporation Xu Lejiang and chairman of Shanghai Electric (Group) Corporation Xu Jianguo, etc. attended the activity. Both parties vow to set up the mechanism for regular exchange and communication and carry out more extensive cooperation to pursue long-term and synergetic development, and further propel the development of Chinese equipment manufacturing industry.

President of Baoshan Iron & Steel Co., Ltd. Ma Guoqiang, vice president of Baosteel Group Corporation Zhao Zhouli, vice president of Baoshan Iron & Steel Co., Ltd. Wang Jing, president of Baosteel Engineering & Technology Group Jiang Weimin, vice chairman of Shanghai Electric (Group) Corporation and president of Shanghai Electric Group Co., Ltd. Huang Dinan, vice chairman of Shanghai Electric (Group) Corporation and president of Shanghai Electric Heavy Industry Group Lv Yachen and chief operating officer of Shanghai Electric Group Co., Ltd. Zhu Bing, as well as the principals of relevant units from both parties attended the exchange.

Shanghai Electric (Group) Corporation is one of the largest equipment manufacturing groups in China, boasting the leading brands in Chinese equipment manufacturing industry and the advantages in supply of complete sets of equipment, general contracting of engineering projects and comprehensive service for modern equipment, etc.

Baosteel and Shanghai Electric are users to each other with over 20 years' history of cooperation. Since both parties signed the framework agreement for strategic cooperation, favorable achievements have been made in commercialization of hi-tech and cooperative R&D on new materials, etc.

During the exchange, the participants exchanged the progress of business cooperation since the signing of the framework agreement for strategic cooperation and the opinions on the issues of common interests.

Xu Jianguo thanked Baosteel's energetic support to Shanghai Electric for so many years in his speech. He pointed out, in future with energy industry as the core, Shanghai Electric will focus on low carbon economy, energetically develop new energy equipment, high efficiency clean energy equipment and energy efficiency equipment. He wished that both parties can walk out a new path for strategic cooperation that can hardly be copied by other enterprises in resources and information sharing, new material R&D and innovation of business models, etc.

Xu Lejiang commented that, Baosteel and Shanghai Electric are both located in Shanghai with favorable geological advantages and are users to each other with effective strategic cooperation achieved. The development of Shanghai Electric drives the upgrading and technological progress of Baosteel's products. Baosteel cherishes the cooperation and friendship between both parties for many years, and will take the supply of green products and excellent service as its mission to join hands with Shanghai Electric so as to make due contributions to jointly drive the development of Chinese equipment manufacturing industry. He wished that both parties can look far ahead into the future and carry out more extensive and comprehensive cooperations to explore the domestic and overseas market hand in hand and create a win-win future.