Wuhan Iron and Steel
On 21–22 September 2016 the merger plan between Wuhan Iron and Steel Corporation and Baosteel Group was announced. The listed subsidiary, Wuhan Iron and Steel Company, would be taken over by the listed counterpart of Baosteel in an all-share deal, while the rights of unlisted Wuhan Iron and Steel Corporation would be transferred to Baosteel Group for free, as both were supervised by the same entity, the State-owned Assets Supervision and Administration Commission of the State Council. The merger of the two parent company was completed in November 2016 and the merger of the two listed subsidiaries was completed in February 2017. Ma Guoqiang, was also promoted back to the new parent company China Baowu Steel Group as chairman of the board of directors and the Secretary of the Party Committee. Ma's position in WISCO was replaced by Liu Xiang, the former Deputy General Manager of WISCO. Liu was also appointed as the Deputy General Manager of China Baowu Steel Group, on top of his position as the highest-ranking officials of WISCO.