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Shanghai-based Chinese steel producer Baosteel announced on Thursday, April 1 the resignation with immediate effect of Xu Lejiang as chairman of the board of the listed company Baosteel Ltd, but stated that he will remain on as chairman of Baoshan Iron and Steel Group, Baosteel's unlisted state-owned parent company. Meanwhile, He Wenbo will take over as chairman of Baosteel Ltd and also as director of its strategic risk management committee.