Baosteel Co. Ltd, a leading iron and steel manufacturer in China, donated 50 million yuan (about US$6.4 million) to the Chinese Environmental Protection Foundation (CEPF) on Monday.

The funds will be used to award institutions and individuals who have made remarkable contributions to environmental protection.

The "Chinese Environmental Awards", will be given for environmental management, urban environment, corporate environment, biological protection, and the promotion of environmental protection.

Over its 14-year history the CEPF has launched a series of environmental programs including symposiums and investigations. Participants included a large number of journalists.

Baosteel was named an "Environment-friendly Company" by the CEPF in 2005.

(Xinhua News Agency May 15, 2007)