China Baowu Steel Group Corporation Limited

China Baowu Steel Group Corporation Limited (hereinafter referred to as “China Baowu” or “Baowu”), headquartered in Shanghai, is an important backbone state-owned enterprise (SOE) directly administered by the central government , and the largest and most influential steel conglomerate in the world. In 2020, China Baowu was one of the central SOEs designated by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) to strive for world-class performance. In 2022, it was transformed into a state-owned capital investment company, and launched efforts to serve as a bellwether in the modern industry chain of new-type, low-carbon metallurgy. In November 2024, it was recognized by SASAC and the China Enterprise Confederation as one of the ten central SOEs successfully ranking among world-class enterprises.

In 1890, the Steelmaking Plant of Jiangnan Machinery Manufacturing Administration (later known as Shanghai Steel Plant) was born in Shanghai, and the Hanyang Iron Works was founded in Wuhan. They marked the beginning of China’s modern steel industry and also the inception of China Baowu. In 1934, the Northwest Steel Plant (predecessor of TaiTaiyuan Iron & Steel or TISCO) commenced construction; in 1938, Shanghai Steel Plant and Hanyang Iron Works  (predecessor of Chongqing Iron & Steel)were relocated to Chongqing. They kept on China’s iron and steel industry uninterrupted.  After the founding of the People’s Republic of China, Bayi Iron & Steel, Wuhan Iron & Steel, Masteel, Echeng Iron & Steel, Shaoguan Iron & Steel, Xinyu Iron & Steel, and Meishan Iron & Steel were successively built and put into operation. In 1978, the first foundation pile of Baosteel was laid on the coast of the East China Sea. The construction and operation of Baosteel, born out of China’s reform and opening-up drive, catapulted the Chinese iron and steel industry forward by 20 years on its way to catching up with the world-leading level. In 1998, Baosteel, Shanghai Metallurgical Holding Group, and Meishan Iron & Steel were merged and restructured, and the resulting company was later merged with Bayi Iron & Steel and Shaoguan Iron & Steel  successively. In 2016, Baosteel Group merged with Wugang Group  to become the China Baowu Steel Group Corporation Limited , which has then successively merged with Magang Group , TISCO, Xinsteel , and Sinosteel  since 2019. For more than 130 years, China Baowu has never stopped pressing ahead despite numerous difficulties and daunting challenges, and generations of Baowu people have been striving tirelessly for self-improvement. On December 23, 2020, its annual steel production exceeded 100 million tons. 

China Baowu, true to its original aspiration of serving the country with steel , has focused on primary responsibilities and main businesses, taking solid steps to establish a “one basis + five industries” business landscape. The core steel manufacturing industry serves as the cornerstone of the company’s development. The green resources sector, focused on securing green resources and energy, acts as a stabilizer. The intelligent services industry accelerates industrial transformation by integrating digital technology with the real economy. The advanced materials sector serves as a new engine, emphasizing strategic emerging materials. The industrial real estate and finance sectors leverage their inherent resources and capabilities to support the company’s high-quality development.

Embarking on a new journey in the new era towards high-quality development, China Baowu is determined to become a comprehensive steel and light metal materials solution provider with a larger scale, greater strengths, and better performance. Powered by reform and innovation, the company is working for enhanced core capabilities and competencies, committed to becoming a world-class enterprise recognized for exceptional products, renowned brands, pioneering innovation, and modern governance. We will make new and greater contributions to advancing Chinese modernization, thereby comprehensively building a strong nation and achieving national rejuvenation.