Date: 2013-07-31

China's Baosteel Grows into World-class Steel Producer

Baosteel Group, China's largest steel company based in the suburbs of Shanghai, has grown into a world-class steel producer after three decades of development.

In 2008, the steel output of Baosteel totaled 35.443 million tons, ranking the first among Chinese steel companies and taking the third place among global steel producers.

Baosteel was founded in the year of 1978, when China just started its opening-up drive. Through over 30 years' development, the group has grown into a world-class steel manufacturer through bringing in advanced technology, constructing competitive production bases and purchasing and restructuring other steel companies.

Since the year of 2003, Baosteel has ridden into the world Top 500 companies for six consecutive years, with the latest ranking at the 220th.

The company has put forward targets that the general competitiveness of its main business in steel industry will enter the world's top three and its ranking in the world Top 500 companies will further rise into the 200th by the year of 2012.

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