Former Baoshan Iron and Steel president Ai Baojun (left) has been elected to replace Xu Lejiang as chairman, and Fu Zhongzhe, a former deputy general manager, elected as its new general manager, the company said in a statement to the Shanghai Stock Exchange on Saturday.

Xu Lejiang replaced the retiring Xie Qihua as the new chairman of the board of directors of Baosteel Group, which is 78 percent State-owned.

Baoshan Iron and Steel plans to boost production of crude steel to 23.27 million tons in 2007 from 21.74 million tons last year.

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