A worker loads a roll of steel at a steel mill owned by Baoshan Iron and Steel Co. (Baosteel) in Shanghai in this file photo. Baosteel plans to issue 4 billion yuan (US$644.05 million) in bonds which can be exchanged for a portion of New China Life Insurance’s Shanghai-listed shares, Baosteel said Friday. Baosteel owns 15.11 percent of the insurer. SD-Agencies