China Baowu

China Baowu Steel Group Co., Ltd. was formed in 2016 through the restructuring and merger of former Baosteel and WISCO. Since its establishment, China Baowu has successively restructured Magang, TISCO, Sinosteel, and Xinsteel, and managed under entrustment Chongqing Steel and Kunming Steel, gradually developing an industrial pattern of "One Base, Five Pillars" with steel manufacturing as the foundation, and advanced materials, green resources, smart services, industrial real estate, and industrial finance businesses cooperating synergistically, along with a regional layout described as "bent bow and drawn arrow." In 2020, Baowu was included by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) as a demonstration enterprise for central enterprises in creation. In 2022, it became a state-owned capital investment company and the "chain leader" unit for the new low-carbon metallurgical modern industrial chain. In May 2024, it was approved as one of the origin sources for original technologies in "industrial green low-carbon and industrial software." In 2023, China Baowu's assets reached 1.36 trillion yuan, with steel output of 130 million tons and total operating revenue of 1.1 trillion yuan, making it the world's largest steel conglomerate. In the 2024 Fortune Global 500 list, it ranked 44th, continuing to hold the top position among global steel enterprises. Key honors: Ranked 44th on Fortune's 2024 "Global 500" list, first among global steel enterprises; rated dual A-level in the 2023 and 2019-2021 term performance assessments of central enterprise heads by SASAC; ranked 334th on World Brand Lab's 2023 "World's 500 Most Influential Brands" list, 33rd among 48 listed Chinese brands, with a brand value of 203.771 billion yuan; ranked 19th on SASAC's 2023 "Top 30 Central Enterprises for Brand Building Capability"; selected as one of the top ten "China ESG Role Models" enterprises at the first "China ESG Role Models" annual ceremony by China Central Television (CCTV); four achievements by Baowu won National Science and Technology Awards in 2023; "Development, Manufacturing, and Application of High-Performance Grain-Oriented Silicon Steel" won the China Industrial Grand Award.