Baosteel Group Corporation (hereinafter as Baosteel) is a state authorized investment institution approved by the State Council and a state-controlling company. It is the most competitive steel complex in China at present. In 2008, Baosteel registered a sales revenue of RMB 246.839 billion yuan, a total profit of RMB 23.813 billion yuan, a total assets of RMB 352.497 billion yuan and a net assets of RMB 219.435 billion yuan; the total employees of Baosteel are 108914 people; Standard & Poor's granted the long-term credit rating "A-" to Baosteel with outlook "stable"; Baosteel has been enrolled in Global 500 for 6 years consecutively and ranked 220th this year.

On December 23, 1978, the construction of Baosteel started in Shanghai. In November 1998, Baosteel, Shanghai Metallurgical Holding Group and Meishan Iron & Steel Co., Ltd. consolidated. In 2006 Baosteel restructured Xinjiang Bayi Iron & Steel Co., Ltd. In 2008 Baosteel restructured Guangzhou Iron & Steel Enterprises Group and Shaoguan Iron & Steel Group to set up Guangdong Iron & Steel Group Corporation to eliminate the outdated capacity and prepare the construction of Zhanjiang Iron & Steel Manufacture Base.

In recent years, centering on iron & steel supply chain, technological chain and resource utilization chain, Baosteel increased the consolidation of internal and external resources to enhance competitiveness and raise industrial status, as a result of which the business structure including main steel business and relatively diversified sectors has preliminarily taken shape.

The main steel business of Baosteel focuses on the production of hi-tech and high value-added premium steel, with an annual production capacity around 30 million tons. Baosteel's products sell well at home and abroad. Its steel industry covers three major categories: carbon steel, stainless steel and specially-alloyed steel, which are widely applied in the sectors of automobile, home appliance, petrochemical, machinery manufacture, energy & transportation, building & decoration, metal products, aviation and aerospace, nuclear power and electronic instruments, etc. While maintaining its dominance in domestic flat product market, Baosteel's products are also exported to over 40 countries and regions including Japan, South Korea, Europe and America.

Baosteel underlines environmental protection, implements clean production, develops circular economy and pursues sustainable development. It is the first enterprise to pass ISO-14001 environmental certification in Chinese metallurgical sector and also the first enterprise to get the title of "National environment-friendly enterprise" in Chinese metallurgical sector and Shanghai Municipality.

In 2004 Baosteel became one of the first three Chinese enterprises to join "Global Compact". In 2006 Baosteel joined World Business Council for Sustainable Development (WBCSD), becoming the second enterprise in China to join WBCSD, and is also the first batch of WBCSD members in global steel industry.

Baosteel's vested strategic target is to turn itself into a world-class public company worldwide, which owns independent IPR and powerful competitiveness and wins most of the social respects, and which is featuring "the most powerful steelmaking capability and the appropriately developed diversification".

In the new situation the development ideology of Baosteel's main steel business is optimized as: centering on the main route of "scale expansion" for future development to shift its strategy from the "premium steel" to the "premium steel plus corporate scale"; to change its method of growth from "building new facilities" to "merging and restructuring plus building new facilities", and to vigorously enhance its comprehensive competitiveness to lead the advancement of China's steel industry as well. To complete the change from regional distribution to nationwide distribution, achieve breakthrough in internationalized distribution and enter top three in global steel industry in terms of comprehensive competitiveness.