 Baosteel's flotation would be one of China's biggest |
Shares in China's biggest steelmaker have been suspended ahead of what looks set to be a huge stock offering. Investors have been waiting for details since Baoshan Iron & Steel, the listed unit of the massive Baosteel, announced its flotation intentions in August.
The company is expected to unveil more information about the $3.7bn (�2.07bn) sale on Wednesday.
At the same time, China Construction Bank said its planned multi-billion dollar flotation in 2005 was on course.
On Tuesday, the bank formally set up a joint-stock company - a key precursor to selling shares on the stock market.
Competition pledge
Several state-owned firms - including Baosteel - have now completed an investment of 194.2bn yuan ($23.5bn; �13.1bn) in CCB.
The bank is one of two which the Chinese government wants to float as part of plans to open up the financial services business.
It promised to let in foreign competition by 2007 as part of its entry into the World Trade Organisation (WTO).
The banking sector is riddled with bad debts, and CCB's massive investment from other state enterprises is intended to help it recapitalise before bringing in foreign partners.
One-Minute World News 
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