Recently Chairman Mr Xu Lejiang of Baosteel Group Corporation met Mr Shi Lixian general manager of HSBC Holdings PLC and co-head of Global Banking and head of Capital Markets for Asia-Pacific in Baosteel Tower. Both parties held friendly discussion over the topics such as further strengthening the cooperation and exchange between both parties.

HSBC Holdings PLC is one of the largest banking and financial institutions in the world, its business covers personal banking, commercial finance, corporate banking, investment banking, capital market and private bank, etc.

In the meeting, the guests and hosts exchanged opinions on world economic situation and Chinese steel industry development trend, etc. Xu Lejiang commented that the intensified market competition brings new challenges and new opportunities as well. He thanked HSBC's long-time support and help to Baosteel, and wished that both parties can further strengthen the communications and exchanges to realize win-win in business cooperation. Shi Lixian said HSBC will exert the advantages in global financial network and provide support to Baosteel in terms of credit, trading and finance as always. Moreover HSBC will actively provide all-round product services and financial solutions to Baosteel in terms of overseas M&A and overseas investment to support the development of Baosteel overseas business.

The principals from Capital Operation Department and Operating Finance Department of the Group Corporation also attended the meeting.