In September 2012 Wuhan Iron and Steel Corporation agreed to acquire the automotive components manufacturer Tailored Blanks from ThyssenKrupp for an undisclosed price.

New chairman, Ma Guoqiang, who replaced Deng Qilin in June 2015, had announced a plan to cut 50,000 staff from their current 80,000.

The listed subsidiary, Wuhan Iron and Steel Company, would be taken over by the listed counterpart of Baosteel in an all-share deal,[7] while the rights of unlisted Wuhan Iron and Steel Corporation would be transferred to Baosteel Group for free, as both were supervised by the same entity, the State-owned Assets Supervision and Administration Commission of the State Council.

Ma Guoqiang, was also promoted back to the new parent company China Baowu Steel Group as chairman of the board of directors and the Secretary of the Party Committee.

Liu was also appointed as the Deputy General Manager of China Baowu Steel Group, on top of his position as the highest-ranking officials of WISCO.