On December 2, Chinese steelmaker Chongqing Iron and Steel Co. (Chongqing Steel), a subsidiary of Chongqing Iron and Steel (Group) Co., announced that 141 million unrestricted tradable shares of the company (representing 3.79% of its total share capital) held by Chongqing Iron and Steel (Group) Co. have been pledged to China Fortune Trust. As of December 2, Chongqing Iron and Steel (Group) holds 2.797 billion shares in Chongqing Steel, accounting for 75 percent of total shares.