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DAI Zhihao, General Manager of Ansteel Group, the world’s third-largest steel company, retired on Tuesday, as he turned 60. Dai, former chairman of Baoshan Iron and Steel has been in the industry for 40 years. He was instrumental in Ansteel’s operations.

Ansteel, headquartered in Anshan City in Liaoning Province, has a crude steel capacity of 55.6 million tons.

This development comes amidst substantial restructuring in China’s steel industry.

At Baowu, in June, CHEN Derong stepped down as chairman to be replaced by HU Wangming, the former general manager.

The retirement age for the top executive of a large central enterprise is 60, with an occasional upper limit of 63, and under special circumstances, it can be extended to 65, but this is very rare.