For the steel company headquartered in Baotou, see Baotou Steel.
"Baosteel" and "Baoshan Iron and Steel" redirect here. For the subsidiary, see Baoshan Iron and Steel Co., Ltd.
China Baowu Steel Group
The headquarters, Baosteel Tower in Pudong, Shanghai
Company type
State-owned enterprise
Industry
Steel
Predecessor
Shanghai Baosteel Group Corporation Wuhan Iron and Steel Corporation
Founded
1978; 46 years ago (1978)
Headquarters
Shanghai, China
Key people
Chen Derong (Chairman)
Products
Steel, flat steel products, long steel products, wire products, plates
Revenue
$79.93 Billion
[1]
Owner
Chinese Central Government (100%)
Number of employees
195 434 (2019) [2]
Parent
SASAC of the State Council
Subsidiaries
see list
Website
www.baowugroup.com
Footnotes / references [3]
China Baowu Steel Group Corporation Limited
Simplified Chinese
中国宝武钢铁集团有限公司
Traditional Chinese
中國寶武鋼鉄集團有限公司
Literal meaning
China Baowu Steel Group Limited [Liability] Corporation
Transcriptions
Standard Mandarin
Hanyu Pinyin
Zhōngguó Bǎowǔ Gāngtiě Jítuán yǒuxiàn Gōngsī
Baowu
Simplified Chinese
宝武
Traditional Chinese
寶武
Literal meaning
Baoshan & Wuhan
Transcriptions
Standard Mandarin
Hanyu Pinyin
Bǎowǔ
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China.[4] The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.[5]
In 2015, Baowu was the second largest steel producer in the world measured by crude steel output, with an annual output of around 35 million tons (China's total steel production in 2015 was 803.8 million tons[6]), and employed 130,401 employees as of the end of 2012, had annual revenues of around $21.5 billion, and produces a mix of products.[7] In 2019, the company closed the gap with ArcelorMittal reaching 95.47 million tons of steel, and hitting $78 billion in revenues,[1] with 195 434 employees.[2]
According to World Steel Association (Chinese companies data were provided by China Iron and Steel Association), the corporation was ranked the 5th in 2015 the world ranking by production volume (2nd in China for 34.938 million metric tons).[8] A plan to merge with Wuhan Iron and Steel Corporation was announced on 21–22 September 2016,[9] which would make the combined production volume the second highest in the world (34.938 million + 25.776 million), after ArcelorMittal (97.136 million in 2015), surpassing Hesteel Group (47.745 million in 2015). Since Baosteel Group and Wuhan Iron and Steel Corporation also announced targets of cutting 3.95 and 4.42 million metric tons production capacity respectively in June[10] and July 2016,[11] and a further cut for Baosteel Group of 2.10 million while a 3.15 million cut was already planned[12] the final ranking may still significantly change.
The IPO of the subsidiary of Baosteel Group on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.[13]
^ ab"China Baowu Steel Group | 2020 Global 500". Fortune. Retrieved 7 April 2021.
^ ab"China: Baowu Steel Group number of employees 2014-2019". Statista. Retrieved 7 April 2021.
^"About Baosteel". Archived from the original on 2011-07-07. Retrieved 2009-12-11.
^"Contact Us." Baosteel. Retrieved on November 10, 2012. "ADD:Baosteel Tower, Pu Dian Road 370, Pudong New District, Shanghai, 200122, P.R. China Postal Code:200122" - Chinese: "上海市浦东新区浦电路370号宝钢大厦"
^"Fitch Revises Baowu's Outlook to Positive; Affirms IDR at 'A'". Retrieved 2023-08-21.
^"Worldsteel | World crude steel output decreases by -2.8% in 2015". Archived from the original on 2017-02-02. Retrieved 2016-12-26.
^Sirkin, Harold L.; James W. Hemerling; and Arindam K. Bhattacharya (2008-06-11). GLOBALITY: Competing with Everyone from Everywhere for Everything. Archived 2008-09-23 at the Wayback Machine New York: Business Plus, 304. ISBN 0-446-17829-2.
^"World Steel Association - Top steel-producing companies". Archived from the original on 2016-07-19. Retrieved 2016-07-26.
^"China deal to create world's second-largest steelmaker". Financial Times. 21 September 2016.
^"化解钢铁过剩产能公告" (in Chinese). Baosteel Group. 30 June 2016. Retrieved 4 October 2016.
^"武汉钢铁(集团)公司关于化解过剩产能实施脱困发展的公告" (PDF). Wuhan Iron and Steel Corporation. 7 July 2016. Archived from the original (PDF) on 12 October 2016. Retrieved 3 October 2016.
^"宝钢实施全方位结构调整和转型升级" (in Chinese (China)). Baosteel Group. 19 August 2016. Retrieved 4 October 2016.
^"China's Baosteel heads for stock market". BBC. 6 November 2000. Retrieved 3 October 2016.
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai...
as turnover. Some of the world's leading steel producers include China Baowu Group and ArcelorMittal. Notable players from China are HBIS Group, Ansteel...
Commission. In 2022, it was acquired by state-owned steel conglomerate Baowu. There are 86 subsidiaries under the administration of Sinosteel, among...
2017. Ma Guoqiang, was also promoted back to the new parent company China Baowu Steel Group as chairman of the board of directors and the Secretary of the...
enterprises. Since 2019, it is a joint venture of central government owned China Baowu Steel Group and Anhui Provincial People's Government's State-owned Assets...
Baosteel Group and Wuhan Iron and Steel Corporation (WISCO) in September 2016, Baowu Steel Group's pro forma production volume in 2015 would be the second in...
companies in the world, 21 are Chinese, including the world's largest, China Baowu Steel Group. China is the world's largest automobile producer, manufacturing...
Automotive 101.075 China 18 Hengli Group Textiles 100.773 China 19 China Baowu Steel Group Steel 97.643 China 20 Dell Electronics 94.224 United States...
of China Ltd., co-invested by China Metallurgical Group Corporation and Baowu Steel Group Corporation (Baosteel Group), was established in 2008. Its A...
80,187 Industrials Hengli Group Suzhou 0123#123 90,944 Materials China Baowu Steel Group Shanghai 0044#44 161,698 Media Walt Disney Burbank 0145#145...
capital of Hubei, from 2018 to 2020. Ma previously served as Chairman of Baowu Group, China's largest steelmaker. He is an alternate member and then a...
Construction Corporation Construction $163,037 $1,800 342,098 China 18 Baowu Steel $161,698 $2,493 245,675 China 19 Mitsubishi Group Conglomerate $159...
Companies of China Economy of China Ansteel Group Angang Steel Company Baowu Steel Group Baoshan Iron & Steel Meishan Iron and Steel Wuhan Iron and Steel...
Companies of China Economy of China Ansteel Group Angang Steel Company Baowu Steel Group Baoshan Iron & Steel Meishan Iron and Steel Wuhan Iron and Steel...
Companies of China Economy of China Ansteel Group Angang Steel Company Baowu Steel Group Baoshan Iron & Steel Meishan Iron and Steel Wuhan Iron and Steel...
Pennsylvania and other places Anben Group, Anshan & Benxi, Liaoning China Baowu Steel Group, in various locations, for example: Baosteel, Shanghai WISCO...
State-owned bank Bank of Communications Financials Banks Shanghai 1908 Bank China Baowu Steel Group Basic materials Iron & steel Shanghai 1978 Steel BBK Electronics...
workforce) in the coal and steel industries planned to take place by 2020. China Baowu Steel Group Ansteel Group Jiangsu Shagang Hesteel Group Jianlong Steel Shougang...
in Ürümqi, Xinjiang. The company was a second-tier subsidiary of China Baowu Steel Group, via Ba Yi Iron and Steel Group (now known as "Baosteel Steel...
joint venture of central government-owned iron and steel conglomerate China Baowu Steel Group (51%; formerly known as Baosteel Group) and the government of...
province Chen Derong 陈德荣 March 1961 Mayor of Jiaxing Chief executive of China Baowu Steel Group Bayanqolu 巴音朝鲁 October 1955 Party Secretary of Ningbo Lou Yangsheng...
Companies of China Economy of China Ansteel Group Angang Steel Company Baowu Steel Group Baoshan Iron & Steel Meishan Iron and Steel Wuhan Iron and Steel...
Companies of China Economy of China Ansteel Group Angang Steel Company Baowu Steel Group Baoshan Iron & Steel Meishan Iron and Steel Wuhan Iron and Steel...