The transaction must be approved by the central government, which owns Baosteel, and the China Securities Regulatory Commission, the market regulator, a process that is expected to take some months.

• 这项交易必须经中央政府和中国证监会批准,预计这一过程将需要几个月时间。中央政府是宝钢所有者,中国证监会是市场管理机构。