Shareholders approve Laiwu Steel-Jinan Steel merger

According to an announcement jointly made by Laiwu Steel (a subsidiary of Chinese steelmaker Shandong Steel Group) and Jinan Steel (another subsidiary of Shandong Steel Group) on May 19, the merger of the two companies has finally been approved by the voting of shareholders. The approval marks a huge step forward for Shandong Steel Group in the execution of its restructuring plan.