Recently, National Bureau of Statistics declared the Top 500 manufacturers in China among which Baosteel Group with 176.17 billion yuan of principal business revenue last year, ranked No. 1. The Top 500 manufacturers are selected based on the sequencing of principal business revenue in annual reports of 2005. The other companies in top 10 are China Faw Group Corporation, Dongfeng Motor Corporation, Legend Holdings Corporation, Haier Group, Motorola(China) Electronics Co., Ltd, Shougang Group, Anshan Iron& Steel Group Corporation, Tangshan Iron& Steel Group Co.,Ltd, and Wuhan Iron& Steel Group Co.,Ltd Facing serious market challenge last year, Baosteel endeavored to overcome the difficulties, optimize the technological process and operation, explore our potential and reduce the cost. After a batch of key projects were successfully put into operation, Baosteel further optimized the product mix, increased production of premium and new products, and actively developed the market. With the exertion of the whole staff, Baosteel has created a historically new high in operation. US magazine Fortune issued the latest list for global 500 companies and Baosteel Group Company ranked 296, which has advanced 13 ranks on the basis of advancing 63 last year.
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