Baosteel is China’s most competitive integrated steel enterprise. Construction of Baosteel commenced in Shanghai on December 23, 1978. In November 1998, Baosteel merged with Shanggang and Meishan to form a joint venture, becoming a pilot enterprise authorized by the state as an investment institution and a state-controlled company. In February 2000, Baoshan Iron and Steel Co., Ltd. (referred to as Baosteel Shares) was officially established and listed on the Shanghai Stock Exchange in December of the same year. In 2007, Baosteel reorganized the Xinjiang Bayi Steel Plant. In 2008, it merged with Guanggang and Shaogang to establish Guangdong Iron and Steel, actively preparing for the construction of a manufacturing base in Zhanjiang while phasing out outdated production capacity. In March 2009, Baosteel signed an agreement with Hangzhou Iron and Steel Group Corporation to restructure Ningbo Iron and Steel Co., Ltd.

Based on its core steel business, Baosteel produces high-tech, high-value-added premium steel products and has established three major product lines: ordinary carbon steel, stainless steel, and special steel. These products are widely used in industries including automotive, home appliances, petrochemicals, mechanical engineering, energy and transportation, architectural decoration, metal products, aerospace, nuclear power, and electronic instrumentation. Through a global sales network, Baosteel’s products enjoy strong sales both domestically and internationally. Not only does the company maintain a dominant position in the domestic plate market, but it also exports its premium steel products to more than 40 countries and regions, including Japan, South Korea, and Europe and the United States.

As of the end of 2010, Baosteel’s total assets amounted to 432.1 billion yuan, and its shareholders’ equity totaled 260.2 billion yuan. In 2010, the company achieved total operating revenue of 273 billion yuan and total profits of 24.2 billion yuan. As of the end of 2010, the total number of employees was 118,500.

In recent years, Baosteel has focused on intensifying the integration of internal and external resources around the steel supply chain, technology chain, and resource utilization chain, thereby enhancing its competitiveness and elevating its industry standing. It has now established a business structure characterized by synergistic development across six key related industries: the core steel business, resource exploration and logistics, extended steel processing, engineering and technical services, coal chemical industry, financial investment, and production support services.

In 2010, Baosteel produced 44.5 million tons of steel, ranking third among global steel companies. In 2010, Baosteel was listed for the seventh consecutive year on Fortune magazine’s Global 500, ranking 276th, and was also named one of the “World’s Most Respected Companies” for 2010.