It was nice to see some buying from Morgan Stanely Canada today at 10:07.

I wonder how many Noront shares Goldman Sachs has, bought through an alias of course?

"Other invited guests present at the inauguration came from Liaison office of Central People' s Government in Hong Kong SAR, China Enterprise Association in Hong Kong SAR, Bank of China, HSBC Bank, Standard Chartered Bank, Credit Suisse, Morgan Stanley，Goldman Sachs，China Steel Corp., etc."

Baosteel Resources International Co., Ltd Inaugurated in Hong Kong------ A Step Further toward Globalization

On Dec. 21st, 2010, Baosteel Resources International Co., Ltd was officially inaugurated in Hong Kong, a city crowned No. 1 in Far East for its role as a global financial hub. While this is deemed a crucial step toward overseas market for Baosteel’s resources developing effort, it's also a significant move in the company’s global layout within a new round of development strategy.
Guests list included Ms. Guo Li, deputy director of Liaison office of Central People' s Government in Hong Kong SAR, Feng Guojing, chairman of Li & Fung Group and independent director of Baosteel Group Corp, Ms. Zeng Jingxuan, chairwoman of Standard Chartered Greater China and independent director of Baosteel Co., Ltd, Du Jinling, vice president of China Steel Corp, and so on.
Guests from within Baosteel included Xu Lejiang, chairman of Baosteel Group Corp, He Wenbo, president of Baosteel Group Corp, Dai Zhihao, Zhou Zhuping and Zhao Zhouli, all vice presidents of Baosteel Group Corp, and Jiang Licheng and Wang Jing, both vice presidents of Baosteel Co., Ltd, and so on.
Other invited guests present at the inauguration came from Liaison office of Central People' s Government in Hong Kong SAR, China Enterprise Association in Hong Kong SAR, Bank of China, HSBC Bank, Standard Chartered Bank, Credit Suisse, Morgan Stanley，Goldman Sachs，China Steel Corp., etc.
The recent price surge of raw material and fuel resources in international market inflicts a big pressure on cost as well as the steel industry's sustainable growth. And the steady supply of resources naturally becomes a focus of concern at strategic level. The market trend on one side, and the global strategy on the other, have shaped the global feature of Baosteel Resources' development.
Baosteel Resources Co., Ltd, mainly engaged in mineral resources investment, trading and logistic services, is a wholly owned subsidiary to Baosteel Group Corporation. For 4 years since its debut, the company has aimed at globalized resources development. So far, some initial results have been achieved, and the company is experiencing healthy, rapid, industrialized growth. The founding of Baosteel Resources International Co., Ltd is a significant move in the efforts to step up globalized resources development, and accelerate the establishment of overseas resources supply system, in line with the new round of development strategy. Baosteel Resources Co., Ltd International will serve as an extension headquarter for Baosteel Resources in overseas market. In this case, there will be 2 headquarters in operation responsible for the resources developing and trading, i.e. Baosteel Resources Co., Ltd, primarily for domestic market, and Baosteel Resources International Co., Ltd for overseas market.
Mr. Dai, vice president of Baosteel Group Corp addressed in the speech, as quoted, "The next couple of years will be a critical period for Baosteel Resources to accelerate the pace of globalized business geared to the new round of development strategy. Today's inauguration symbols a refreshing start in our mission toward global arena. To accomplish this mission, we need passion and dream. Through constant innovation and exploration of ways for globalized growth compatible to resources industry, we expect to see a 'leapfrog' development." He also expressed the confidence in the company to put in place a global raw material guaranteeing system as part of the effort to build steel manufacturing supply chain competitiveness. "By being a world-class mineral resources provider, we could one day return the kind support and generosity of share holders, the society and friends from all fields with our excellent performance", he added.
Mr. Xu, chairman of Baosteel Group Corp said in the inauguration, as quoted, "This is a milestone in the history of Baosteel. By this, we've marched a step further toward globalized business, which is an action to the Chinese government's strategy for 'going global'. It's also a key move in Baosteel's global resources strategy. That is, by actively cultivating the overseas market, intensifying overseas resources exploration, a raw material and fuel resources guaranteeing system is expected to be in place, which is a push for globalized business. Hong Kong is a city boasting location advantage for international business. It will provide better opportunities to achieve 'first time market response', and attract talents with global vision to seek careers here. "He hoped that Baosteel Resources would view this as a new starting point to make better use of both domestic and overseas markets, seeking opportunities, making breakthroughs in overseas investment and capital operation, and ultimately, setting up an overseas resources guaranteeing system as an effective support for Baosteel's steel manufacturing growth. He also stressed that a perfected overseas resources providers system would considerably promote trade opportunities and expand trade sphere. To add, he noticed the importance of a uniform platform for logistic and shipping services, as well as the necessity to cultivate and improve the international shipping operation skills. He said, while meeting Baoteel's steel manufacturing needs, Baosteel Resources also aims bigger and stronger, to be among the best mineral resources providers in the world at an early date."
Mr. Xu also met Ms. Huang Bijuan, President and CEO of HSBC Bank (China), and Feng Guojing, chairman of Li & Fung Group and independent director of Baosteel Group Corp separately before the ceremony.