According to the relevant national laws and regulations, investment projects with investment exceeding a certain scale need to be approved by the state. The National Development and Reform Commission, the State Administration of Foreign Exchange and other relevant departments need to examine and approve investment projects involving cross-border capital flows. Investment projects involve industries and fields that are restricted, prohibited or must be restricted, and some types of projects need approval. For example, strategic emerging industries such as new energy and high technology, and key national construction projects all need the approval of the central government.
The specific projects to be invested by Baosteel need to be approved by the central government according to relevant regulations. Investment projects involve cross-border capital flows, national restrictions, prohibited industries or strategic emerging industries. And it needs to be approved by the central government. The specific situation needs to be analyzed in detail, and the application and approval should be carried out as required.