On December 7, China Securities Regulatory Commission (CSRC) announced that it has approved the merger plan of Shanghai-based Chinese steelmaker Baoshan Iron & Steel Co. Ltd (Baosteel) and Hubei Province-based Chinese steel producer Wuhan Iron and Steel Co. Ltd (Wuhan Steel), both subsidiaries of China Baowu Iron & Steel Group (China Baowu Steel Group) - the newly-formed merger of Baosteel Group and WISCO Group. Accordingly, Baosteel has announced that it would resume trading of shares on December 8 after submitting an application to Shanghai Stock Exchange (SHSE). Trading had been suspended on December 1 due to the need for CSRC to carry out an examination.
On December 6, Baosteel announced that its controlling shareholder China Baowu Steel Group had received a notice from the Anti-monopoly Bureau of China’s Ministry of Commerce to the effect that there was no need for any further investigation following the preliminary examination of the merger plan of Baosteel and Wuhan Steel.