Baowu News

[ 2017-07-25 ]

In July 20th, evening, Fortunechina worldwide simultaneously issued the latest Fortune Top 500 ranking, in which China Baowu Steel Group Co., Ltd. ranked No. 204 with operating income of 46606.2 million US dollars and profit of 442.8 million US dollars, as No.2 among the global steel enterprises.

To carry out the spirit of the 18th national congress of the CPC and the third, fourth, fifth and sixth plenary session of the 18th communist party, and to promote China steel industry mergers and acquisitions, healthy development, enhancing the structural reform of the supply side, and actively responding to global competition, realizing enterprise quality and efficiency improvement, China Baowu Steel Group Co., Ltd. was formally established on December 1st last year .

Baowu Group is positioned as state-owned capital investment company pilot, striving to become a "global steel industry leader." In 2016, Baowu Group in accordance with the relevant requirements of Party Central Committee, the State Council and the SASAC, focused on the top level design and intensifying reform, making overall good efforts of "reducing and exercising", improving quality and efficiency, focusing on business optimization to speed up transformation and upgrading, with good beginning of new industry cultivation, operating performance improving significantly, significantly enhancing profitability. The annual steel production reached 58.4 million tons, operating income of 307.2 billion yuan, achieving substantial profit growth year on year, exceeding the same period domestic industry average profit growth level. Among them, the main steel industry achieved profit of 8.03 billion yuan, increasing 28.91 billion profit on year-on-year basis.

In the latest Fortune Top 500 ranking, there are nine steel companies. In addition to Baowu Group, there are No. 156, ArcelorMittal, No. 208, Korea POSCO, No. 221, Hesteel Group, No. 224, Thyssen Krupp, No. 228, Nippon Steel, No. 322, Xinxing cathay international group, No. 356, JFE, No. 365, Shagang Group.

Source:Baowu News Centre