Although she's past the retirement age and has given up her chief executive title at China's largest steel company, Xie is still in charge. But the 63-year-old "iron lady" faces many challenges: Baosteel, which had revenue of $21.5 billion last year, saw profits drop 9%, largely because of higher prices for raw materials. And a Beijing-ordered slowdown means production this year will be less than in 2005.