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Shanghai Baosteel Group Corporation reports

2005/02/15

Shanghai Baosteel Group Corporation, China's largest steel producer, reports it produced 21.38 million tons of steel in 2004, according to a Xinhua News Agency report.

This means Baosteel is the first producer in China to achieve an annual output of 20 million tons of steel.

The group reports its 2004 sales revenues will likely top 160 billion yuan (US$19.3 billion). In 2003, Baosteel was listed 372nd on the FORTUNE Global 500 list of top world enterprises for its annual sales income of 120.4 billion yuan (about US$14.55 billion). Baosteel and the Shanghai Automobile Industry Corporation Group are among the first manufacturing and fully competitive enterprises in China to achieve a FORTUNE listing.



 
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