Baosteel Group Corporation (hereinafter referred to as Baosteel), which is currently the most competitive iron and steel complex in China, is the global partner of the Shanghai Expo and the general supplier of steels for the big event. With business revenue of RMB 195.3 billion, total profit of RMB 14.9 billion, total assets of RMB 402 billion, net asset of RMB 243 billion, and totally 106,914 employees, the corporation ranked the 276th among the Fortune 500 in 2010, the seventh consecutive year for such honor it has received. In 2009, it was also the only Chinese enterprise that was awarded the title of "World's Most Admired Company". The total steel production of Baosteel was 38.87 million tons in 2009, ranked the 3rd among the steel enterprises all over the world.
The construction of Baosteel commenced in Shanghai on Dec. 23rd,1978. In November 1998, Baosteel, Shanghai Metallurhical Holding Group(SMHG) and Meishan Iron & Steel Co., Ltd. were reshuffled and consolidated.In 2006, Xinjiang Bayisteel was reorganized. In 2008, Baosteel, Guangzhou Iron & Steel Enterprises Group and Shaoguan Iron & Steel Group were reorganized and established Guangdong Iron & Steel Group Corporation, and Zhanjiang Steel Manufacture Base was built up at the same time of discarding backward production facilities. In March 2009, Baosteel took over Ningbo Steel Company.In recent years, focusing on the chains of steel supply, technique and resource utilization, Baosteel has strengthened the integration of internal and external resources, raised competitiveness and status in the industry. The business structure incorporating steel production as the main part and other related sectors has been created.
The steel business of Baosteel was based on producing high-tech steel products with high added values. The three major product series, namely straight carbon steels, stainless steels and special steels, are widely used in industries such as automobile, home appliances, petrochemical, machine building,energy and transportation, construction and decoration, metalwork, aerospace and aviation, nuclear energy and electronic devices, etc. Baosteel's products are selling well in domestic and foreign markets through the sales network around the world. It not only dominates the domestic steel plate market but also exports the quality steel products to more than 40 countries and areas including Japan, Korea and other American and European countries.
Baosteel attaches great importance toenvironment protection and pursuit sustainable development via clean production and recycling economy. It is the first to gain the ISO14001 Environmental Quality Certification in metallurgical industry in China and also the first to be awarded the title of National Environmentalfriendly Enterprise in both shanghai and the Chinese metallurgical industry.
In 2004, Baosteel and the other two Chinese enterprises were the first to join the Global Compact. In 2006, Baosteel became the second Chinese company that joint the World Business Council for Sustainable Development (WBCSD). It is also one of the earliest WBCSD members in global steel industry.
Baosteel is dedicated to social welfare services and always takes responsibilities in and contributes to society development. The Baosteel Education Foundation and the China Baosteel Environment Prize Foundation have been set up. In addition, the company has donated money to the Hope Project, Antarctic Great Wall Station and Kunlun Station, sent relief to Wenchuan Earthquake areas and Taiwan tsunami-stricken areas, and offered one-to-one aid to Puer of Yunnan Province and Zhongba County of Tibet, injecting strong incentive for the local economic development and social stability.