Baosteel has been rated Level A for the consecutive three years

At present, the State-owned Assets Supervision and Commission of the State Council has officially issued the operation performance assessment result of large state-owned enterprises in 2007, Baosteel Group, together with other 39 large state-owned enterprises, was rated Level A, which is Bao's consecutive three years to win this rate.

Since 2004, the operation performance assessment system combined by annual assessment system and tenure assessment system. The implementation of this system is of significant orientation, encouragement and restraint effect for large state-owned enterprises to conduct the scientific outlook on development, deepen the reforming, strengthen the management, intensify the core competitiveness and coordinate the sustainable development on an all-rounded basis.

It is said that 152 large state-owned enterprises took part in performance assessment and testing evaluation held by the State-owned Assets Supervision and Commission of the State Council. Through the comprehensive assessment on such key indice as gross profit, average net asset profit ratio, average gross asset returning ratio, gross asset, average debt-to-asset ratio, etc, 40 enterprises were rated Level A, 82 enterprises were rated Level B, 28 enterprises were rated Level C. Among Level A enterprises, 4 are from metallurgical sector.

Since 2004 when pilot works were held on the board of director of Baosteel by the State-owned Assets Supervision and Commission of the State Council, substantial improvement has been made on operation management, technology R & D, reforming innovation, etc. In particular, with the hiking of raw material and freight price, surplus of domestic steel capacity and intensified international market competition, Baosteel still persists in the road of scientific development, continuously optimize the manageial procedure, adjust the product mix, give full play to cost reduction and refurbish the operation performance.

Baosteel has been rated Level A for the consecutive three years by the State-owned Assets Supervision and Commission of the State Council.