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<li id="toc-Baoshan_Iron_and_Steel" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Baoshan_Iron_and_Steel"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Baoshan Iron and Steel</span> </div> </a> <ul id="toc-Baoshan_Iron_and_Steel-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Baosteel_Group" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Baosteel_Group"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2</span> <span>Baosteel Group</span> </div> </a> <ul id="toc-Baosteel_Group-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Baowu" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Baowu"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.3</span> <span>Baowu</span> </div> </a> <ul id="toc-Baowu-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Subsidiaries" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Subsidiaries"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Subsidiaries</span> </div> </a> <ul id="toc-Subsidiaries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Equity_investments" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Equity_investments"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Equity investments</span> </div> </a> <ul id="toc-Equity_investments-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" title="Table of Contents" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" 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Available in 24 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-24" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">24 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A8%D8%A7%D9%88%D9%88" title="باوو – Arabic" lang="ar" hreflang="ar" data-title="باوو" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D8%A8%D8%A7%D8%A6%D9%88%D8%A7%D8%B3%D8%AA%DB%8C%D9%84" title="بائواستیل – South Azerbaijani" lang="azb" hreflang="azb" data-title="بائواستیل" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%A8%D0%B0%D0%BD%D1%85%D0%B0%D0%B9_%D0%91%D0%B0%D0%BE%D1%81%D1%82%D0%B8%D0%B9%D0%BB" title="Шанхай Баостийл – Bulgarian" lang="bg" hreflang="bg" data-title="Шанхай Баостийл" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Baosteel" title="Baosteel – Danish" lang="da" hreflang="da" data-title="Baosteel" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/China_Baowu_Steel_Group" title="China Baowu Steel Group – German" lang="de" hreflang="de" data-title="China Baowu Steel Group" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Baowu_Steel_Group" title="Baowu Steel Group – Spanish" lang="es" hreflang="es" data-title="Baowu Steel Group" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%D8%A7%D8%A6%D9%88%D8%A7%D8%B3%D8%AA%DB%8C%D9%84" title="بائواستیل – Persian" lang="fa" hreflang="fa" data-title="بائواستیل" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/China_Baowu_Steel_Group" title="China Baowu Steel Group – French" lang="fr" hreflang="fr" data-title="China Baowu Steel Group" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%B0%94%EC%98%A4%EC%9A%B0" title="바오우 – Korean" lang="ko" hreflang="ko" data-title="바오우" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Baowu" title="Baowu – Indonesian" lang="id" hreflang="id" data-title="Baowu" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Baosteel" title="Baosteel – Italian" lang="it" hreflang="it" data-title="Baosteel" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Baowu" title="Baowu – Lithuanian" lang="lt" hreflang="lt" data-title="Baowu" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Baosteel" title="Baosteel – Hungarian" lang="hu" hreflang="hu" data-title="Baosteel" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Baowu" title="Baowu – Dutch" lang="nl" hreflang="nl" data-title="Baowu" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E5%AE%9D%E9%8B%BC%E9%9B%86%E5%9B%A3" title="宝鋼集団 – Japanese" lang="ja" hreflang="ja" data-title="宝鋼集団" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Baosteel" title="Baosteel – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Baosteel" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Baosteel" title="Baosteel – Portuguese" lang="pt" hreflang="pt" data-title="Baosteel" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Baosteel" title="Baosteel – Romanian" lang="ro" hreflang="ro" data-title="Baosteel" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/China_Baowu_Steel_Group" title="China Baowu Steel Group – Russian" lang="ru" hreflang="ru" data-title="China Baowu Steel Group" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/China_Baowu_Steel_Group" title="China Baowu Steel Group – Finnish" lang="fi" hreflang="fi" data-title="China Baowu Steel Group" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/China_Baowu_Steel_Group" title="China Baowu Steel Group – Turkish" lang="tr" hreflang="tr" data-title="China Baowu Steel Group" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/T%E1%BA%ADp_%C4%91o%C3%A0n_Th%C3%A9p_B%E1%BA%A3o_V%C5%A9_Trung_Qu%E1%BB%91c" title="Tập đoàn Thép Bảo Vũ Trung Quốc – Vietnamese" lang="vi" hreflang="vi" data-title="Tập đoàn Thép Bảo Vũ Trung Quốc" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E4%B8%AD%E5%9B%BD%E5%AE%9D%E6%AD%A6%E9%92%A2%E9%93%81%E9%9B%86%E5%9B%A2" title="中国宝武钢铁集团 – Wu" lang="wuu" hreflang="wuu" data-title="中国宝武钢铁集团" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E4%B8%AD%E5%9B%BD%E5%AE%9D%E6%AD%A6%E9%92%A2%E9%93%81%E9%9B%86%E5%9B%A2" title="中国宝武钢铁集团 – Chinese" lang="zh" hreflang="zh" data-title="中国宝武钢铁集团" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span 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data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">For the steel company headquartered in Baotou, see <a href="/wiki/Baotou_Steel" title="Baotou Steel">Baotou Steel</a>.</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">"Baosteel" and "Baoshan Iron and Steel" redirect here. For the subsidiary, see <a href="/wiki/Baoshan_Iron_and_Steel_Co.,_Ltd." class="mw-redirect" title="Baoshan Iron and Steel Co., Ltd.">Baoshan Iron and Steel Co., Ltd.</a></div> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1242257876">.mw-parser-output .ib-company .infobox-label{padding-right:0.5em}.mw-parser-output .ib-company .infobox-data,.mw-parser-output .ib-company .infobox-below{line-height:1.35em}.mw-parser-output .ib-company-logo img{background-color:#f8f9fa}.mw-parser-output .ib-company-locality,.mw-parser-output .ib-company-country{display:inline}</style><table class="infobox ib-company vcard"><caption class="infobox-title fn org" style="font-size: 125%;">China Baowu Steel Group</caption><tbody><tr><td colspan="2" class="infobox-image ib-company-logo logo"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Baowu_Steel_Group_-_Logo.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Baowu_Steel_Group_-_Logo.svg/220px-Baowu_Steel_Group_-_Logo.svg.png" decoding="async" width="220" height="33" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Baowu_Steel_Group_-_Logo.svg/330px-Baowu_Steel_Group_-_Logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/28/Baowu_Steel_Group_-_Logo.svg/440px-Baowu_Steel_Group_-_Logo.svg.png 2x" data-file-width="741" data-file-height="110" /></a></span></td></tr><tr><td colspan="2" class="infobox-image ib-company-logo logo"><span typeof="mw:File"><a href="/wiki/File:BaosteelTower0.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/12/BaosteelTower0.jpg/200px-BaosteelTower0.jpg" decoding="async" width="200" height="267" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/12/BaosteelTower0.jpg/300px-BaosteelTower0.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/12/BaosteelTower0.jpg/400px-BaosteelTower0.jpg 2x" data-file-width="2448" data-file-height="3264" /></a></span><div class="infobox-caption">The headquarters, Baosteel Tower in <a href="/wiki/Pudong" title="Pudong">Pudong</a>, <a href="/wiki/Shanghai" title="Shanghai">Shanghai</a></div></td></tr><tr><th scope="row" class="infobox-label">Company type</th><td class="infobox-data category"><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category">Steel</td></tr><tr><th scope="row" class="infobox-label">Predecessor</th><td class="infobox-data">Shanghai Baosteel Group Corporation<br /><a href="/wiki/Wuhan_Iron_and_Steel_Corporation" title="Wuhan Iron and Steel Corporation">Wuhan Iron and Steel Corporation</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">1978<span class="noprint">; 47 years ago</span><span style="display:none"> (<span class="bday dtstart published updated">1978</span>)</span></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data label"><a href="/wiki/Shanghai" title="Shanghai">Shanghai</a>, China</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Key people</div></th><td class="infobox-data agent">Hu Wangming <small>(<a href="/wiki/Chairman" class="mw-redirect" title="Chairman">Chairman</a>)</small></td></tr><tr><th scope="row" class="infobox-label">Products</th><td class="infobox-data">Steel, flat steel products, long steel products, wire products, plates</td></tr><tr><th scope="row" class="infobox-label">Revenue</th><td class="infobox-data"><a href="/wiki/US$" class="mw-redirect" title="US$">US$</a> 157.216 billion (2023)<sup id="cite_ref-Financials_1-0" class="reference"><a href="#cite_note-Financials-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Net_income" title="Net income">Net income</a></div></th><td class="infobox-data"><a href="/wiki/US$" class="mw-redirect" title="US$">US$</a> 2.494 billion (2023)<sup id="cite_ref-Financials_1-1" class="reference"><a href="#cite_note-Financials-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><span class="nowrap"><a href="/wiki/Asset" title="Asset">Total assets</a></span></th><td class="infobox-data"><a href="/wiki/US$" class="mw-redirect" title="US$">US$</a> 191.964 billion (2023)<sup id="cite_ref-Financials_1-2" class="reference"><a href="#cite_note-Financials-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Owner</th><td class="infobox-data"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" class="mw-redirect" title="State Council of the People's Republic of China">Chinese Central Government</a> (100%)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Number of employees</div></th><td class="infobox-data">382,894 (2023)<sup id="cite_ref-Financials_1-3" class="reference"><a href="#cite_note-Financials-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Subsidiary" title="Subsidiary">Subsidiaries</a></th><td class="infobox-data">see <a href="#Subsidiaries">list</a></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><a rel="nofollow" class="external text" href="http://www.baowugroup.com/en/">www.baowugroup.com</a></td></tr><tr><td colspan="2" class="infobox-below"><b>Footnotes / references</b><br /><sup id="cite_ref-about_baosteel_2-0" class="reference"><a href="#cite_note-about_baosteel-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox"><tbody><tr><th colspan="2" class="infobox-above" style="color: #202122;background-color:#b0c4de">China Baowu Steel Group Corporation Limited</th></tr><tr style="display:none;"><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Simplified_Chinese_characters" title="Simplified Chinese characters">Simplified Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hans" style="font-size: 1rem;"><span class="nowrap"><a href="https://en.wiktionary.org/wiki/%E4%B8%AD%E5%9B%BD" class="extiw" title="wikt:中国">中国</a><a href="https://en.wiktionary.org/wiki/%E5%AE%9D%E6%AD%A6" class="extiw" title="wikt:宝武">宝武</a><a href="https://en.wiktionary.org/wiki/%E9%92%A2%E9%93%81" class="extiw" title="wikt:钢铁">钢铁</a><a href="https://en.wiktionary.org/wiki/%E9%9B%86%E5%9B%A2" class="extiw" title="wikt:集团">集团</a><a href="https://en.wiktionary.org/wiki/%E6%9C%89%E9%99%90" class="extiw" title="wikt:有限">有限</a><a href="https://en.wiktionary.org/wiki/%E5%85%AC%E5%8F%B8" class="extiw" title="wikt:公司">公司</a></span></span></span></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Traditional_Chinese_characters" title="Traditional Chinese characters">Traditional Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hant" style="font-size: 1rem;"><a href="https://en.wiktionary.org/wiki/%E4%B8%AD%E5%9C%8B" class="extiw" title="wikt:中國">中國</a><a href="https://en.wiktionary.org/wiki/%E5%AF%B6%E6%AD%A6" class="extiw" title="wikt:寶武">寶武</a><a href="https://en.wiktionary.org/wiki/%E9%8B%BC%E9%89%84" class="extiw" title="wikt:鋼鉄">鋼鉄</a><a href="https://en.wiktionary.org/wiki/%E9%9B%86%E5%9C%98" class="extiw" title="wikt:集團">集團</a><a href="https://en.wiktionary.org/wiki/%E6%9C%89%E9%99%90" class="extiw" title="wikt:有限">有限</a><a href="https://en.wiktionary.org/wiki/%E5%85%AC%E5%8F%B8" class="extiw" title="wikt:公司">公司</a></span></span></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;">Literal meaning</th><td class="infobox-data">China Baowu Steel Group Limited [Liability] Corporation</td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox-subbox mw-collapsible mw-collapsed" style="display:inline-table; text-align: left;"><tbody><tr><th colspan="2" class="infobox-above" style="font-size: 100%; text-align: left;color: #202122; background-color: #f9ffbc;">Transcriptions</th></tr><tr><th colspan="2" class="infobox-header" style="color: #202122;background-color: #dcffc9;"><a href="/wiki/Standard_Chinese" title="Standard Chinese">Standard Mandarin</a></th></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Hanyu_Pinyin" class="mw-redirect" title="Hanyu Pinyin">Hanyu Pinyin</a></th><td class="infobox-data"><span title="Chinese-language romanization"><span style="font-style: normal" lang="zh-Latn">Zhōngguó Bǎowǔ Gāngtiě Jítuán yǒuxiàn Gōngsī</span></span></td></tr></tbody></table></td><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></tr><tr style="display:none"><td colspan="2"> </td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox"><tbody><tr><th colspan="2" class="infobox-above" style="color: #202122;background-color:#b0c4de">Baowu</th></tr><tr style="display:none;"><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Simplified_Chinese_characters" title="Simplified Chinese characters">Simplified Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hans" style="font-size: 1rem;"><a href="https://en.wiktionary.org/wiki/%E5%AE%9D" class="extiw" title="wikt:宝">宝</a><a href="https://en.wiktionary.org/wiki/%E6%AD%A6" class="extiw" title="wikt:武">武</a></span></span></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Traditional_Chinese_characters" title="Traditional Chinese characters">Traditional Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hant" style="font-size: 1rem;"><a href="https://en.wiktionary.org/wiki/%E5%AF%B6" class="extiw" title="wikt:寶">寶</a><a href="https://en.wiktionary.org/wiki/%E6%AD%A6" class="extiw" title="wikt:武">武</a></span></span></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;">Literal meaning</th><td class="infobox-data"><a href="/wiki/Baoshan_District,_Shanghai" class="mw-redirect" title="Baoshan District, Shanghai">Baoshan</a> & <a href="/wiki/Wuhan" title="Wuhan">Wuhan</a></td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox-subbox mw-collapsible mw-collapsed" style="display:inline-table; text-align: left;"><tbody><tr><th colspan="2" class="infobox-above" style="font-size: 100%; text-align: left;color: #202122; background-color: #f9ffbc;">Transcriptions</th></tr><tr><th colspan="2" class="infobox-header" style="color: #202122;background-color: #dcffc9;"><a href="/wiki/Standard_Chinese" title="Standard Chinese">Standard Mandarin</a></th></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Hanyu_Pinyin" class="mw-redirect" title="Hanyu Pinyin">Hanyu Pinyin</a></th><td class="infobox-data"><span title="Chinese-language romanization"><span style="font-style: normal" lang="zh-Latn">Bǎowǔ</span></span></td></tr></tbody></table></td><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></tr><tr style="display:none"><td colspan="2"> </td></tr></tbody></table> <p><b>China Baowu Steel Group Corp., Ltd.</b>, commonly known as <b>Baowu</b>, is a <a href="/wiki/State-owned_enterprise" title="State-owned enterprise">state-owned</a> iron and steel company headquartered in the Baosteel Tower in <a href="/wiki/Pudong" title="Pudong">Pudong</a>, <a href="/wiki/Shanghai" title="Shanghai">Shanghai</a>, China.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The company was formed by <b>Baosteel Group</b> absorbing its smaller state-owned peer, <a href="/wiki/Wuhan_Iron_and_Steel_Corporation" title="Wuhan Iron and Steel Corporation">Wuhan Iron and Steel Corporation</a> in 2016. It is the world's largest steel producer.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>In 2015, Baowu was the <a href="/wiki/List_of_steel_producers" title="List of steel producers">second largest steel producer in the world measured by crude steel output</a>, with an annual output of around 35 million tons (China's total steel production in 2015 was 803.8 million tons<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup>), 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.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> In 2019, the company closed the gap with ArcelorMittal reaching 95.47 million tons of steel, and hitting $78 billion in revenues,<sup id="cite_ref-fortune_7-0" class="reference"><a href="#cite_note-fortune-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> with 195,434 employees.<sup id="cite_ref-statisa_8-0" class="reference"><a href="#cite_note-statisa-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>According to <a href="/wiki/World_Steel_Association" title="World Steel Association">World Steel Association</a> (Chinese companies data were provided by <a href="/wiki/China_Iron_and_Steel_Association" title="China Iron and Steel Association">China Iron and Steel Association</a>), the corporation was ranked the 5th in 2015 the world ranking by production volume (2nd in China for 34.938 million metric tons).<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> A plan to merge with Wuhan Iron and Steel Corporation was announced on 21–22 September 2016,<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> which would make the combined production volume the second highest in the world (34.938 million + 25.776 million), after <a href="/wiki/ArcelorMittal" title="ArcelorMittal">ArcelorMittal</a> (97.136 million in 2015), surpassing <a href="/wiki/Hesteel_Group" title="Hesteel Group">Hesteel Group</a> (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<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> and July 2016,<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> and a further cut for Baosteel Group of 2.10 million while a 3.15 million cut was already planned<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> the final ranking may still significantly change. </p><p>The <a href="/wiki/IPO" class="mw-redirect" title="IPO">IPO</a> of the subsidiary of Baosteel Group on the <a href="/wiki/Shanghai_Stock_Exchange" title="Shanghai Stock Exchange">Shanghai Stock Exchange</a> in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Baoshan_Iron_and_Steel">Baoshan Iron and Steel</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=2" title="Edit section: Baoshan Iron and Steel"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1978, as part of the Chinese government's <a href="/wiki/Reform_and_opening" class="mw-redirect" title="Reform and opening">reform and opening</a>, Chinese <a href="/wiki/Paramount_leader" title="Paramount leader">paramount leader</a> <a href="/wiki/Deng_Xiaoping" title="Deng Xiaoping">Deng Xiaoping</a> sought to develop large-scale steel production in China.<sup id="cite_ref-:0_15-0" class="reference"><a href="#cite_note-:0-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The government planned for a large integrated steel production facility to be located near the port of <a href="/wiki/Shanghai" title="Shanghai">Shanghai</a>, in <a href="/wiki/Baoshan_District,_Shanghai" class="mw-redirect" title="Baoshan District, Shanghai">Baoshan District</a>, a suburb of Shanghai.<sup id="cite_ref-:0_15-1" class="reference"><a href="#cite_note-:0-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> In 1978, a delegation from the Chinese government, including Deng Xiaoping himself, visited a steel mill operated by <a href="/wiki/Nippon_Steel" title="Nippon Steel">Nippon Steel</a> to learn how to construct such a large facility.<sup id="cite_ref-:0_15-2" class="reference"><a href="#cite_note-:0-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> As the government's flagship steel company, <b>Baoshan Iron and Steel</b> <b>(Baogang)</b> as it was originally called, benefitted from acquiring the engineers and managers, access to technology, and receiving government contracts.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p>Initially, the firm limited its exports to just 10% of steel production, hoping to fulfill domestic demand.<sup id="cite_ref-:0_15-3" class="reference"><a href="#cite_note-:0-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Baoshan Iron and Steel served the <a href="/wiki/Light_industry" title="Light industry">light industry</a> base around Shanghai.<sup id="cite_ref-:0222_17-0" class="reference"><a href="#cite_note-:0222-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 267">: 267 </span></sup> </p><p>In the 1980s, Baoshan Iron and Steel supplanted <a href="/wiki/Ansteel_Group" title="Ansteel Group">Angang</a> as China's largest steel producer.<sup id="cite_ref-:0222_17-1" class="reference"><a href="#cite_note-:0222-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 267">: 267 </span></sup> </p><p>Baoshan Iron and Steel also benefitted from the Chinese economic expansion which consumed all the steel available.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2021)">citation needed</span></a></i>]</sup> However, with the continuing liberalization of the Chinese economy, Baoshan found itself in competition with new rivals, both foreign and domestic.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2021)">citation needed</span></a></i>]</sup> By the late 1990s, the company removed its cap on steel exports;<sup id="cite_ref-:0_15-4" class="reference"><a href="#cite_note-:0-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> it scored notable success in <a href="/wiki/South_Korea" title="South Korea">South Korea</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2021)">citation needed</span></a></i>]</sup> Although hurt by the <a href="/wiki/Asian_financial_crisis" class="mw-redirect" title="Asian financial crisis">Asian financial crisis</a>, Baoshan pushed through with a merger of other money losing state owned enterprises, though it had managed to remain profitable itself.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2021)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Baosteel_Group">Baosteel Group</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=3" title="Edit section: Baosteel Group"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On November 17, 1998, the former <b>Baoshan Iron and Steel (Group) Corporation</b> absorbed the Shanghai Metallurgical Holding Group Corporation (上海冶金控股集团公司) and the "<a href="/wiki/Shanghai_Meishan_Group" class="mw-redirect" title="Shanghai Meishan Group">Shanghai Meishan Group</a>" (上海梅山集团公司) to form <b>Shanghai Baosteel Group Corporation</b>. The new conglomerate was the largest steel producer in the country with annual steel production of nearly 20 million tons. Since then, the strategy of Baosteel Group has been to expand production capacity in iron and steel, achieve vertical integration along the value chain, and acquire related industries.<sup id="cite_ref-chm_18-0" class="reference"><a href="#cite_note-chm-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p>In 1997, a subsidiary of Shanghai Metallurgical Holding, the former Shanghai No.3 Iron and Steel Plant, Shanghai Pudong Iron and Steel, formed a joint venture with <a href="/wiki/ThyssenKrupp" title="ThyssenKrupp">ThyssenKrupp</a> of Germany, as Shanghai Krupp Stainless.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> It followed the parent company to become a subsidiary of Baosteel Group in 1998.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>In 2000, a subsidiary <a href="/wiki/Baosteel_(subsidiary)" class="mw-redirect" title="Baosteel (subsidiary)">Baoshan Iron & Steel Co., Ltd.</a> was formed to list a portion of the group on the <a href="/wiki/Shanghai_Stock_Exchange" title="Shanghai Stock Exchange">Shanghai Stock Exchange</a>, while Shanghai No.1st, 2, 3 and 5 Iron and Steel Plants of the group were remaining unlisted. In 2004, the listed subsidiary acquired <a href="/wiki/Meishan_Iron_and_Steel" title="Meishan Iron and Steel">Meishan Iron and Steel</a> from Baosteel Group (via Shanghai Meishan Group).<sup id="cite_ref-chm_18-1" class="reference"><a href="#cite_note-chm-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p>Baosteel took over the benchmark negotiations in the global <a href="/wiki/Iron_ore" title="Iron ore">iron ore</a> market in 2006.<sup id="cite_ref-:02_21-0" class="reference"><a href="#cite_note-:02-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 31">: 31 </span></sup> At that time, the global iron ore market had been subject to a benchmark pricing regime set by the three largest producers (<a href="/wiki/Rio_Tinto_(corporation)" title="Rio Tinto (corporation)">Rio Tinto</a>, <a href="/wiki/Vale_S.A." title="Vale S.A.">Vale S.A.</a>, and <a href="/wiki/BHP" title="BHP">BHP Billiton</a>) and the largest importer (which had been Japanese importers prior to 2006).<sup id="cite_ref-:02_21-1" class="reference"><a href="#cite_note-:02-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 41">: 41 </span></sup> In 2009, it was replaced as the lead negotiator by <a href="/wiki/China_Iron_and_Steel_Association" title="China Iron and Steel Association">China Iron and Steel Association</a>.<sup id="cite_ref-:02_21-2" class="reference"><a href="#cite_note-:02-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 109">: 109 </span></sup> The benchmark pricing system ended in 2010.<sup id="cite_ref-:02_21-3" class="reference"><a href="#cite_note-:02-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 41">: 41 </span></sup> </p><p>In 2007 Baosteel Group acquired the majority stake of <a href="/wiki/Xinjiang_Ba_Yi_Iron_and_Steel#Ba_Yi_Iron_and_Steel_Group" title="Xinjiang Ba Yi Iron and Steel">Xinjiang Ba Yi Iron and Steel Group</a>, which was the parent company of Ba Yi Iron and Steel [Company Limited by Shares].<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>In 2008 Baosteel Group expended in Southern China, which planned to build a new facility in <a href="/wiki/Zhanjiang" title="Zhanjiang">Zhanjiang</a>, <a href="/wiki/Guangdong" title="Guangdong">Guangdong</a>, which formally started by its subsidiary Baoshan Iron & Steel in 2012, by acquiring 71.8032% stake of Zhanjiang Iron and Steel for CNY4.976 billion from State-owned Assets Supervision and Administration Commission of Guangzhou City.<sup id="cite_ref-reuters_23-0" class="reference"><a href="#cite_note-reuters-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p><p>In 2011, Baosteel Group acquired 51% stake of <a href="/wiki/Shaoguan_Iron_and_Steel" title="Shaoguan Iron and Steel">Guangdong Shaoguan Iron and Steel Group</a> from SASAC of Guangdong Government. In April 2012, Shaoguan Iron and Steel Co, Ltd. was established.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>Boasteel owns the 85% of held resources company Aquila Resources Pty Ltd, through Baosteel Resources.<sup id="cite_ref-Aquila_25-0" class="reference"><a href="#cite_note-Aquila-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p><p>Boasteel developed a sales and distribution network in China and foreign countries. Boasteel overseas subsidiaries controls key minerals resources for steel production, such as the Majishan ore terminal in the port of <a href="/wiki/Zhoushan" title="Zhoushan">Zhoushan</a>.<sup id="cite_ref-chm_18-2" class="reference"><a href="#cite_note-chm-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Baosteel also invested in steel-related industries such as Baoxin Software and Baosteel Chemical.<sup id="cite_ref-chm_18-3" class="reference"><a href="#cite_note-chm-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Baowu">Baowu</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=4" title="Edit section: Baowu"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On 21–22 September 2016, a plan to merge Baosteel Group and fellow state-owned steel maker <a href="/wiki/Wuhan_Iron_and_Steel_Corporation" title="Wuhan Iron and Steel Corporation">Wuhan Iron and Steel Corporation</a> was announced. <a href="/wiki/Baoshan_Iron_and_Steel_Company_Limited" class="mw-redirect" title="Baoshan Iron and Steel Company Limited">Baoshan Iron and Steel Company Limited</a>, the listed portion of Baosteel Group would takeover the counterpart <a href="/wiki/Wuhan_Iron_and_Steel_Company_Limited" title="Wuhan Iron and Steel Company Limited">Wuhan Iron and Steel Company Limited</a> in an all-share deal,<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> while the rights of <a href="/wiki/Wuhan_Iron_and_Steel_Corporation" title="Wuhan Iron and Steel Corporation">Wuhan Iron and Steel Corporation</a> would be transferred to Baosteel Group for free as a wholly owned subsidiary. Both Baosteel Group and Wuhan Iron and Steel Corporation were supervised by <a href="/wiki/State-owned_Assets_Supervision_and_Administration_Commission_of_the_State_Council" title="State-owned Assets Supervision and Administration Commission of the State Council">SASAC of the Central Government</a>. As of December 2016, the name of the new group is <b>China Baowu Steel Group Corporation</b>.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> It is now the second largest steel producer in the world, with assets estimated to be worth around 730 billion <a href="/wiki/Renminbi" title="Renminbi">Yuan</a>,<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> employing 228,000 employees and expected annual sales revenues of 330 billion Yuan (<a href="/wiki/United_States_dollar" title="United States dollar">$</a>47.9 billion).<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p><p>In early 2016, Baosteel Group was accused by <a href="/wiki/US_Steel_Corporation" class="mw-redirect" title="US Steel Corporation">US Steel Corp</a>. of stealing commercial secrets. Baosteel rejected these allegations, stating that "In particular, the charges claiming that Baosteel stole commercial secrets from U.S. Steel is rootless speculation and subjective assumption, and could even be described as an absurd statement".<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/United_States_International_Trade_Commission" title="United States International Trade Commission">United States International Trade Commission</a> launched a probe into these allegations in May 2016. Next to Baosteel, <a href="/wiki/Hebei_Iron_and_Steel_Group_Company" class="mw-redirect" title="Hebei Iron and Steel Group Company">Hebei Iron and Steel Group</a>, <a href="/wiki/Wuhan_Iron_and_Steel_Co.,_Ltd." class="mw-redirect" title="Wuhan Iron and Steel Co., Ltd.">Wuhan Iron and Steel Co., Ltd.</a>, <a href="/wiki/Maanshan_Iron_and_Steel_Company_Limited" class="mw-redirect" title="Maanshan Iron and Steel Company Limited">Maanshan Iron and Steel Company Limited</a>, <a href="/wiki/Anshan_iron_and_steel_group" class="mw-redirect" title="Anshan iron and steel group">Anshan Iron and Steel Group</a> and <a href="/wiki/Jiangsu_Shagang_Group_Company_Limited" class="mw-redirect" title="Jiangsu Shagang Group Company Limited">Jiangsu Shagang Group</a> are also under investigation.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> In February 2017, US Steel dropped the claim of trade secret theft because of a lack of evidence, and in October 2017, the United States International Trade Commission dismissed the anti-circumvention allegation. In March 2018, it additionally dismissed the antitrust claims, again because of a lack of evidence, and ended the investigation.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> </p><p>In 2019, China Baowu Steel Group acquired 51% stake of <a href="/wiki/Masteel_Group" title="Masteel Group">Masteel Group</a> from the SASAC of <a href="/wiki/Anhui_Provincial_People%27s_Government" title="Anhui Provincial People's Government">Anhui Provincial People's Government</a> for free. The acquisition also included the indirect controlling stake of the list company <a href="/wiki/Maanshan_Iron_and_Steel_Company_Limited" class="mw-redirect" title="Maanshan Iron and Steel Company Limited">Maanshan Iron and Steel Company Limited</a>.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>By 2020 the company had become the largest steel manufacturer in the world by volume.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p><p>In 2022, Baowu acquired fellow state-owned enterprise <a href="/wiki/Sinosteel" title="Sinosteel">Sinosteel</a>.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Subsidiaries">Subsidiaries</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=5" title="Edit section: Subsidiaries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Steel plants <ul><li><a href="/wiki/Baosteel_(subsidiary)" class="mw-redirect" title="Baosteel (subsidiary)">Baoshan Iron and Steel</a> (<a href="/wiki/Shanghai_Stock_Exchange" title="Shanghai Stock Exchange">SSE</a>: <a rel="nofollow" class="external text" href="https://english.sse.com.cn/markets/equities/list/overview/?COMPANY_CODE=600019&STOCK_CODE=600019">600019</a>) <ul><li><a href="/wiki/Baosight_Software" title="Baosight Software">Baosight Software</a></li> <li><a href="/wiki/Meishan_Iron_and_Steel" title="Meishan Iron and Steel">Shanghai Meishan Iron and Steel</a> (77.04%)</li> <li><a href="/wiki/Wuhan_Iron_and_Steel_Company" class="mw-redirect" title="Wuhan Iron and Steel Company">Wuhan Iron and Steel Company</a> (100%)</li> <li>Zhanjiang Iron and Steel</li></ul></li> <li>Shanghai First Iron and Steel Co., Ltd.</li> <li>Shanghai Second Iron and Steel Co., Ltd.</li> <li>Shanghai Pudong Iron and Steel Co., Ltd.</li> <li>Shanghai Fifth Iron and Steel Co., Ltd.</li> <li><a href="/wiki/Shaoguan_Iron_and_Steel" title="Shaoguan Iron and Steel">Guangdong Shaoguan Iron and Steel</a> (51%) <ul><li><a href="/wiki/SGIS_Songshan" class="mw-redirect" title="SGIS Songshan">SGIS Songshan</a> Co., Ltd. (53.37%, <a href="/wiki/Shenzhen_Stock_Exchange" title="Shenzhen Stock Exchange">SZSE</a>: <a rel="nofollow" class="external text" href="https://www.szse.cn/English/siteMarketData/siteMarketDatas/lookup/index.html?code=000717">000717</a>)</li></ul></li> <li><a href="/wiki/Wuhan_Iron_and_Steel_Corporation" title="Wuhan Iron and Steel Corporation">Wuhan Iron and Steel Corporation</a> (100%) <ul><li>Guangxi Iron and Steel Group (100%)</li></ul></li> <li><a href="/wiki/Xinjiang_Ba_Yi_Iron_and_Steel#Ba_Yi_Iron_and_Steel_Group" title="Xinjiang Ba Yi Iron and Steel">Xinjiang Ba Yi Iron and Steel Group</a> (76.93%) <ul><li><a href="/wiki/Xinjiang_Ba_Yi_Iron_and_Steel" title="Xinjiang Ba Yi Iron and Steel">Xinjiang Ba Yi Iron and Steel</a> (50.02%, <a href="/wiki/Shanghai_Stock_Exchange" title="Shanghai Stock Exchange">SSE</a>: <a rel="nofollow" class="external text" href="https://english.sse.com.cn/markets/equities/list/overview/?COMPANY_CODE=600581&STOCK_CODE=600581">600581</a>)</li></ul></li></ul></li> <li>Mining conglomerate <ul><li><a href="/wiki/Meishan_Iron_and_Steel#Shanghai_Meishan_Group" title="Meishan Iron and Steel">Shanghai Meishan Co., Ltd.</a> (100%)</li> <li><a href="/wiki/Sinosteel" title="Sinosteel">Sinosteel</a> (100%)</li> <li><a href="/wiki/Tibet_Mineral_Development" title="Tibet Mineral Development">Tibet Mineral Development</a></li></ul></li> <li>Financial companies <ul><li>Hwabao Investment (100%)</li> <li>Fortune Investment (100%)</li></ul></li> <li>Others <ul><li>Guangdong Iron and Steel Group (100%)</li></ul></li></ul> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="plainlinks metadata ambox mbox-small-left ambox-notice" role="presentation" style="width: auto;"><tbody><tr><td class="mbox-image"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/20px-Information_icon4.svg.png" decoding="async" width="20" height="20" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/30px-Information_icon4.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/40px-Information_icon4.svg.png 2x" data-file-width="620" data-file-height="620" /></span></span></td><td class="mbox-text" style="width: auto;"><div class="mbox-text-span">This list is <a href="/wiki/Wikipedia:WikiProject_Lists#Incomplete_lists" title="Wikipedia:WikiProject Lists">incomplete</a>; you can help by <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Baowu&action=edit">adding missing items</a>. <span class="date-container"><i>(<span class="date">October 2016</span>)</i></span></div></td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Equity_investments">Equity investments</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=6" title="Edit section: Equity investments"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Baosteel Group was a minority owner of <a href="/wiki/Metallurgical_Corporation_of_China_Limited" class="mw-redirect" title="Metallurgical Corporation of China Limited">Metallurgical Corporation of China Limited</a> for 0.65% (as at 30 June 2010).<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> Excluding the investment held by the listed subsidiary Baoshan Iron and Steel, Baosteel Group owned 0.88% stake (via Hwabao Investment) in PetroChina Pipelines, the company that runs <a href="/wiki/West%E2%80%93East_Gas_Pipeline" title="West–East Gas Pipeline">West–East Gas Pipeline</a>.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p><p>Baosteel Group, as at 31 December 2015, still owned 15.11% stake in <a href="/wiki/New_China_Life_Insurance" title="New China Life Insurance">New China Life Insurance</a>, a listed company in both Hong Kong and Shanghai Stock Exchange,<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> as well as <a href="/wiki/China_Bohai_Bank" title="China Bohai Bank">China Bohai Bank</a> for 11.67% stake,<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> <a href="/wiki/China_Pacific_Insurance" class="mw-redirect" title="China Pacific Insurance">China Pacific Insurance</a> for 14.17% stake.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Baowu&action=edit&section=7" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <dl><dt>general</dt></dl> <ul><li><a rel="nofollow" class="external text" href="http://www.fundinguniverse.com/company-histories/Shanghai-Baosteel-Group-Corporation-Company-History.html">Detailed History of Baosteel</a></li></ul> <dl><dt>specific</dt></dl> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-Financials-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-Financials_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Financials_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Financials_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-Financials_1-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em 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