Fujian Province-based Chinese steelmaker Sansteel Minguang Co., Ltd. has announced that Fujian Province State-owned Assets Supervision and Administration Commission (SASAC) plans to set up Fujian Province Industrial Holding Group Co., while the 80 percent equity in Fujian Province-based provincial state-owned enterprise Fujian Yejin directly held by Fujian SASAC will be injected into Fujian Province Industrial Holding Group. Accordingly, Fujian Yejin will be the subsidiary of Fujian Province Industrial Holding Group Co.
Steelmaker Sansteel Minguang Co., Ltd. is a subsidiary of Fujian Yejin.